The Directions imposed on Raigad Sahakari Bank Limited, Mumbai shall continue to apply to the bank till April 18, 2023, as per the directive of the RBI, subject to review.
The UCB was first placed under direction on July 18, 2022, for a period of six months.
All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated January 17, 2023, notifying the above extension is displayed at the bank’s premises for the perusal of the public.
The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that the Reserve Bank of India is satisfied with the financial position of the bank, clarifies the RBI.