Reserve Bank of India, in exercise of powers vested in it, has extended the Directions on Youth Development Cooperative Bank Limited, Kolhapur, Maharashtra. It shall continue to apply to the bank till April 05, 2021.
The UCB was placed under Directions from the close of business on January 05, 2019 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to January 05, 2021.
All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated January 04, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of the public.
The aforesaid extension and /or modification 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.