Sikar Urban Co-operative Bank in Rajasthan has been further put under Direction for period of three months from September 10, 2020 to December 09, 2020 vide Directive dated September 3, 2020, subject to review, reads a press release from the RBI.
The UCB was placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months in the beginning which was extended time and again as the UCB did not register any perceptible change in its affairs.
All the other terms and conditions of the Directive under reference shall remain unchanged. A copy of the above Directive dated September 3, 2020 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.