Reserve Bank of India has extended the Direction on the Kapol Cooperative Bank till April 30, 2021. The UCB was first placed under Direction from the close of business on March 30, 2017.
All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated January 29, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of the public, says RBI in a release.
The extension by Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank, clarifies the release.