The Reserve Bank of India has extended the Directions to the Mapusa Urban Co-Operative Bank of Goa for a further period of three months from November 19, 2019 to February 18, 2020 subject to review.
The first Direction dated July 24, 2015, has been modified from time to time, last being that of August 13, 2019 which extended the Directions up to November 18, 2019.
Other terms and conditions of the Directives under references as modified from time to time shall remain unchanged.
Several proposals for the merger of Mapusa Urban Co-Operative Bank with other UCBs have been doing rounds with little progress so far.