More than eight urban co-operative banks belonging to Maharashtra, Andhra Pradesh and Uttar Pradesh have seen the RBI Direction being extended to them for the lack of improvement in their financial parameters last week. In the majority of cases the Direction has been extended for a period of three months.
These UCBs are — Kapol Cooperative Bank, Mumbai, Jaiprakash Narayan Nagari Sahakari Bank (Hingoli, Maharashtra), Anjangaon Surji Nagari Sahakari Bank, Amravati, Solapur based UCB The Karmala Urban Co-operative Bank, Urban Co-operative Bank Ltd., Sitapur (U.P.), Durga Co-operative Urban Bank Ltd., Vijayawada and Indian Mercantile Co-operative Bank Ltd., Lucknow (U.P).
The Reserve Bank of India has extended the period of operation of the Directive issued to The Anjangaon Surji Nagari Sahakari Bank based in Amravati, Maharashtra for a further period of three months from April 29, 2023 to July 28, 2023, subject to review. The UCB was first placed under Direction on July 27, 2022 for a period of six months, the validity of which was extended up to April 28, 2023. Now the same has been extended for further three months
RBI also extended Direction to Solapur based UCB The Karmala Urban Co-operative Bank Limited for a further period of three months from April 30, 2023 to July 29, 2023, subject to review. The UCB was first placed under Direction on July 29, 2022 for a period of six months,
the validity of which was extended up to April 29, 2023.
Directions to Jaiprakash Narayan Nagari Sahakari Bank Ltd., Basmatnagar, Hingoli, Maharashtra was also extended by the RBI for a further period of three months from April 30, 2023 to July 29, 2023, subject to review. Jaiprakash Narayan Nagari Sahakari Bank was first placed under Direction on July 28, 2022 for a period of six months up to January 29, 2023, the validity of which was extended up to April 29, 2023.
RBI extended direction to Durga Co-operative Urban Bank Ltd., Vijayawada further for a period of three months from April 30, 2023, to July 29, 2023 subject to review. The UCB was first placed under Direction on July 28, 2022 for a period of six months, which was extended for a period of three months upto April 29, 2023.
RBI has issued directions to the Urban Co-operative Bank Ltd., Sitapur (U.P.) for a period of three (03) months from April 29, 2023 to July 28, 2023, subject to review. The bank has been under direction from the close of business on July 28, 2022.
Yet another UCB whose Directions have been extended include Lucknow Urban Co-operative Bank Ltd., Lucknow (U.P.) for a period of three months from April 29, 2023 to July 28, 2023, subject to review. The bank has been under direction from the close of business of July 28, 2022 the said direction was extended till April 28, 2023.
Reserve Bank of India has extended Direction to Kapol Cooperative Bank, Mumbai for three months till July 31, 2023. The UCB was put under Direction on March 30, 2017. The validity of the directions was extended from time-to-time, the last being up to April 30, 2023.
A day earlier, RBI had extended the directions to the Indian Mercantile Co-operative Bank Ltd., Lucknow (U.P) for a period of three months from April 28, 2023 to July 27, 2023, subject to review.