The RBI restrictions on the Bhilwara Mahila Urban Co-operative Bank has been extended once again in the face of lack of improvement in the ground realities of the UCB.
In a press release RBI said “It is hereby notified for the information of the public that in exercise of powers vested in it RBI is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Bhilwara Mahila Urban Co-operative Bank for next four months.
It was March 9, 2017 when for the first time the regulator RBI had imposed Directions on the Bhilwara Mahila Urban Co-operative Bank. It was extended for six months on 01 September, 2017 and were valid up to March 09, 2018.
“The Directions shall continue to apply to the bank for a further period of Four months from March 10, 2018 to July 09, 2018, subject to review”, RBI said in its latest press release.
“The other terms and conditions of the Directives under reference shall remain unchanged”, it added.