The Reserve Bank of India has extended the Directions on The Needs of Life Co-operative Bank Ltd, Mumbai till October 31, 202, subject to review.
The UCB was placed under Directions from the close of business on October 29, 2018 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to April 30, 2021.
All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated April 26, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of 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 with the financial position of the bank.
