The Reserve Bank of India has extended the Direction on Deccan Urban Co-operative Bank Limited, Vijayapura, Karnataka for a further period of three months.
In a release, the RBI says “It shall continue to apply to the bank for a further period of three months from May 20, 2022, to August 19, 2022, subject to review.”
The UCB was first placed under restriction on February 18, 2021, the validity of which was last extended up to May 19, 2022.
Other terms and conditions of the Directive under reference shall remain unchanged.