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The Reserve Bank of India (RBI) has extended the validity of directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) for Thodupuzha Urban Co-operative Bank Ltd, Kerala. The original directions were issued on August 23, 2022, for six months and were last extended until August 23, 2024.
In the public interest, RBI has further extended the operation of the directive for three months, from August 23, 2024, to November 23, 2024, subject to review. All other terms and conditions of the directive, as previously modified, remain unchanged.
The directives continue to ensure that the bank maintains regulatory compliance, including cybersecurity, protection of customer data, and privacy safeguards, in line with RBI’s risk management and operational requirements.
[RBI]