The Reserve Bank of India has extended the Directions to The Adoor Co-operative Urban Bank, Adoor, Kerala for a further period of six months, from November 10, 2019 to May 09, 2020, subject to review.
Other terms and conditions of the Directive under reference shall remain unchanged.
The UCB was first put under Direction vide Directive DCBS.CO.PCC D-4/12.26.004/2018-19 dated November 02, 2018, from close of business on November 9, 2018 for a period of six months, which were last extended first to May 03, 2019 and then for another six months up to November 09, 2019.
The Reserve Bank of India has reviewed the financial position of the said bank and considers it necessary in public interest to extend the aforesaid directions.