DIRECTIONS UNDER SECTION 35 A READ WITH SECTION 56 OF THE BANKING REGULATION ACT, 1949 COLOUR MERCHANTS CO-OPERATIVE BANK LTD., AHMEDABAD- EXTENSION OF PERIOD

MUMBAI, India, March 25 -- Reserve Bank of India issued the following press release:

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Colour Merchants Co-operative Bank Ltd., Ahmedabad, Gujarat vide Directive AMD.DOS.SSM.No.S1053/11-03-039/2023-2024 dated September 25, 2023, the validity of which was extended up to close of business on March 25, 2025 vide Directive DOR.MON/D-86/12.21.039/2024-25 dated December 17, 2024.

2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on March 25, 2025. Accordingly, the Reserve Bank of India, in exercise of the po...