DIRECTIONS UNDER SECTION 35A READ WITH SECTION 56 OF THE BANKING REGULATION ACT, 1949 - SHIMSHA SAHAKARA BANK NIYAMITHA, MADDUR, MANDYA DISTRICT - EXTENSION OF PERIOD

MUMBAI, India, May 21 -- 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 Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District vide Directive BLR.DOS.SSMS.No.S2174/12-08-295/2022-23 dated February 23, 2023, for a period of six months up to August 24, 2023, as modified from time to time, which were last extended up to close of business on May 24, 2025 vide Directive DOR.MON/D-73/12.23.292/2024-25 dated November 21, 2024. 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 May 24, 2025.

2. Accordingly, the Rese...