The Reserve Bank of India has extended the Directive for a further period of three months from September 4, 2023 to December 3, 2023 on The Faiz Mercantile Cooperative Bank Ltd., Nashik, subject to review.
The UCB was first placed under Direction on March 2, 2023, for a period of six months up to September 3, 2023. The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive beyond September 3, 2023.
All other terms and conditions of the Directives under reference shall remain unchanged.