Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - Millath Co-operative Bank Ltd., Devangere, Karnataka – Extension of Period
Case Brief
The Reserve Bank of India extended the validity of its All Inclusive Directions issued to Millath Co-operative Bank Ltd., Devangere, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, originally dated April 26, 2019 and last extended on April 27, 2020, were continued for a further three months from November 8, 2020 to February 7, 2021, with all other terms unchanged and subject to review.
RBI stated that the All Inclusive Directions originally issued on April 26, 2019 to Millath Co-operative Bank Ltd., Devangere, Karnataka, as modified from time to time and last extended up to November 7, 2020, shall continue to apply for a further period of three months from November 8, 2020 to February 7, 2021. The release says all other terms and conditions of the directives remain unchanged and that the extension is under Section 35A read with Section 56 of the Banking Regulation Act, 1949.
Severity Assessment
This is an extension of RBI All Inclusive Directions under Section 35A/56, which is treated as a broad business restriction with severity 4 even without a fine.
The bank remains subject to the same RBI-imposed operating restrictions for the extended period. It must continue complying with the existing directions until February 7, 2021, subject to any further review or modification by RBI.
Published as Millath Co-operative Bank Ltd., Devangere, Karnataka
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.
Millath Co-operative Bank Ltd., Davangere, Karnataka
License cancellation · Fresh imposition
Millath Co-operative Bank Limited
Business restriction · Extension
Millath Co-operative Bank Limited
Business restriction · Extension
Millath Co-operative Bank Limited
Business restriction · Extension
Millath Co-operative Bank Limited
Business restriction · Extension
© 2026 RegOversight by OddVector