The Reserve Bank of India, in public interest, has extended the Directions issued earlier to United Co-operative Bank Limited, Bagnan Station Road (North), in Howrah district of West Bengal.
The Directions first imposed from the close of business on July 18, 2018, has been modified from time to time and was last extended upto July 18, 2019.
The Reserve Bank of India has now, in public interest, further extended the directions for a period of three months from July 19, 2019 to October 18, 2019. A copy of the Directive is displayed at bank’s premises for perusal of public.
The issue of the above Directions by the 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. The Reserve Bank of India may consider modifications of these Directions depending upon circumstances from time to time.