Directions under Section 35A read with Section 56 of the BR Act 1949 (AACS)- Thodupuzha Urban Co-operative Bank Ltd, Kerala- Extension of period (Revised)
Case Brief
The Reserve Bank of India has extended the period of operation of the existing directions issued to Thodupuzha Urban Co-operative Bank Limited, Kerala under section 35A read with section 56 of the Banking Regulation Act, 1949. The directive, originally issued on August 23, 2022 and last extended up to May 23, 2023, will now continue from May 24, 2023 to August 23, 2023, subject to review. RBI states that all other terms and conditions of the directive remain unchanged.
RBI, exercising powers under section 35A read with section 56 of the Banking Regulation Act, 1949, extended the validity of the directions earlier issued on August 23, 2022 to Thodupuzha Urban Co-operative Bank Limited, Kerala. The same directive, last extended up to May 23, 2023, was made to continue from May 24, 2023 to August 23, 2023, with all other terms and conditions remaining unchanged.
Severity Assessment
This is an extension of RBI Section 35A directions on a cooperative bank, which is treated as a broad business restriction with severity 4.
The bank continues to operate under the same RBI-imposed restrictions for the extended three-month period ending August 23, 2023. Any operational limits, compliance obligations, or customer-impacting conditions in the original directions remain in force until reviewed or further modified by RBI.
Published as Thodupuzha Urban Co-operative Bank Limited, Kerala
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Thodupuzha Urban Co-operative Bank Ltd, Kerala
Action lifted · Lifted / withdrawn
Thodupuzha Urban Co-operative Bank Ltd, Kerala
Business restriction · Extension
Thodupuzha Urban Co-operative Bank Ltd, Kerala
Business restriction · Extension
Thodupuzha Urban Co-operative Bank Ltd, Kerala
Business restriction · Extension
Thodupuzha Urban Co-operative Bank Ltd, Kerala
Business restriction · Extension
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