Reserve Bank of India has extended the directions on the Alwar Urban Co-op Bank for a period of four months, according to a press release issued by the regulator.
In the release it says” It is hereby notified for the information of the public that in exercise of powers vested in it, RBI is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Alwar Urban Co-operative Bank Ltd, Alwar (Rajasthan).”
“Earlier, the directive dated March 01, 2017, effective from March 8, 2017 were extended for a period of six months vide order dated 01 September, 2017 and are valid up to March 07, 2018, shall continue to apply to the bank for a further period of Four months from March 08, 2018 to 07 July 2018 vide order dated 01 March, 2018, subject to review”, read the release.
The other terms and conditions of the Directives under reference shall remain unchanged.