Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 – The Karmala Urban Co-operative Bank Limited, Solapur – Extension of Period
Case Brief
The Reserve Bank of India has continued the operative period of its prior directions issued to The Karmala Urban Co-operative Bank Limited, Solapur under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The earlier directive, first issued on July 29, 2022 and already extended once, is now valid for a further three months from April 30, 2023 to July 29, 2023, subject to review. No other terms were changed.
The Reserve Bank of India extended the validity of its earlier directions issued to The Karmala Urban Co-operative Bank Limited, Solapur under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, originally issued on July 29, 2022 and previously extended up to April 29, 2023, was continued for a further period of three months from April 30, 2023 to July 29, 2023. The release states that all other terms and conditions of the directives remain unchanged.
Severity Assessment
This is an extension of RBI Section 35A operating directions on a cooperative bank, which carries a structural severity floor of 4.
The bank must continue complying with the existing RBI directions through July 29, 2023, with no change to the underlying conditions. The restriction remains in force for the institution and indirectly affects its normal operations until the extended period ends or RBI reviews it further.
Published as The Karmala Urban Co-operative Bank Limited, Solapur
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The Karmala Urban Co-operative Bank Ltd., Solapur
Action lifted · Lifted / withdrawn
The Karmala Urban Co-operative Bank Ltd., Solapur, Maharashtra
Business restriction · Extension
The Karmala Urban Co-operative Bank Ltd., Solapur, Maharashtra
Business restriction · Extension
The Karmala Urban Co-operative Bank Limited
Business restriction · Extension
The Karmala Urban Co-operative Bank Limited, Solapur, Maharashtra
Business restriction · Extension
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