Reserve Bank of India has further extended the Directions to Kolikata Mahila Co-operative Bank Limited, Kolkata, West Bengal for a period of three months from July 10, 2020 to October 09, 2020, according to a press release.
A copy of the Directive is displayed at bank’s premises for perusal of public.
The UCB was placed under direction first on July 09, 2019 as modified from time to time which was last extended upto July 09, 2020.
The issue of the above Directions by Reserve Bank of India should not per se be construed as cancellation of banking licence.
The bank will continue to undertake banking business with restrictions till its financial position improves. Reserve Bank of India may consider modifications of these Directions depending upon circumstances from time to time.
