The Reserve Bank of India’s Directions to Adoor Co-operative Urban Bank Limited, Adoor has been extended further for a period of six months.
According to the Directions, depositors will be allowed to withdraw a sum not exceeding Rs 2000 (Rupees Two Thousand only) of the total balance held in every savings bank or current account or any other deposit account by whatever name called, subject to conditions stipulated in the RBI Directions.
There are many other restrictions which become effective on the Adoor Co-operative Urban Bank with the Directions.
The original RBI directions was dated November 02, 2018. It will continue to apply to the bank for a further period of six months from May 10, 2019 to November 09, 2019, subject to review, says RBI in a press release.
Other terms and conditions of the Directive under reference shall remain unchanged.