The Reserve Bank of India, in exercise of powers vested in it, has extended the Direction on Youth Development Co-op. Bank Ltd., Kolhapur, Maharashtra for a further period of six months from January 06, 2020 to July 05, 2020, subject to review.
The UCB was placed under directions from close of business on January 05, 2019. The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive dated July 02, 2019 and is valid upto January 05, 2020.
Other terms and conditions of the Directive under reference as modified from time-to-time, shall remain unchanged. A copy of the directive dated January 01, 2020 notifying the above 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 of substantive improvement in the financial position of the bank.
