The Reserve Bank of India extended the directions validity on the Kerala based Adoor Cooperative Urban Bank on Monday for the further period of three months from 10th April 2023 to 09th May 2023.
The Bank was placed under direction in November, 2018, the validity of which was extended from time to time. Other terms and conditions of the Directive under reference, as modified from time to time, shall remain unchanged.
The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the aforesaid Directions, read a press release issued by the RBI.