The Reserve Bank of India extended the period of directions on Imperial Urban Cooperative Bank in Jalandhar, Punjab for a further period of three months.
A press release Issued in this context said, “The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on June 10, 2024”.the release stated.
“Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business on June 10, 2024 to close of business on September 10, 2024, subject to review”, it further added.
The other terms and conditions of the Directive under reference, shall remain unchanged.