RBI extended the period of directions on Kerala based Thodupuzha Urban Cooperative Bank for a further period of three months till 23rd May 2023, subject to review.
In its press release, RBI said, “The apex bank is satisfied that in the public interest, it is necessary to extend the period of operation of the aforesaid Directions.
“The Reserve Bank of India has instructed that the directions issued to Thodupuzha Urban Co-operative Bank Limited, Kerala, the validity of which was last extended up to February 23, 2024, shall continue to apply to the bank for a further period of three months, i.e., from close of business on February 23, 2024, to close of business on May 23, 2024, subject to review”, RBI said.
It further reads, “Other terms and conditions of the Directive under reference, as modified from time to time, shall remain unchanged”.