Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan will continue to be under RBI’s direction. The Directive shall continue to apply to the bank for a further period of three months from December 10, 2022 to March 09, 2023, subject to review, RBI says in a release.
The UCB was placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months , the validity of the directions was last extended for three months up to December 09, 2022.
RBI clarifies that all the other terms and conditions of the Directive under reference shall remain unchanged. A copy of the above Directive dated December 08, 2022 notifying the 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 Reserve Bank of India is satisfied with the financial position of the bank, says RBI.