The Reserve Bank of India (RBI) has extended the restrictions on Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi, until June 14, 2025. The bank was initially placed under RBI Directions on June 13, 2023, for six months, with multiple extensions, the latest being until March 14, 2025.
In a notification issued on March 11, 2025, under the Banking Regulation Act, 1949, the RBI announced the continuation of these restrictions until June 14, 2025, subject to review.
All other terms and conditions of the directive remain unchanged, and a copy of the latest extension has been displayed at the bank’s premises for public reference.
The RBI clarified that this extension should not be interpreted as a sign of confidence in the bank’s financial position.
