The Direction on the Sikar Urban Co-operative Bank based in Sikar, Rajasthan shall continue to apply to the bank for a further period of three months from June 10, 2021 to September 09, 2021, reads a press release from RBI.
Directive dated June 09, 2021 is subject to review, clarifies the RBI. The UCB was first placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months.
The validity of the directions was last extended vide Directive dated March 09, 2021 for three months up to June 09, 2021, subject to review.
All the other terms and conditions of the Directive under reference shall remain unchanged. A copy of the above Directive dated June 09, 2021 notifying the extension is displayed at the bank’s premises for the perusal of the public.
The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.