Reserve Bank of India extended the period of directions on five cooperative banks on Friday for a further period of three months.
These banks are Dwarkadas Mantri Nagari Sahakari Bank, Beed, Defence Accounts Cooperative Bank, Pune, National Mercantile Cooperative Bank, Pune Sahakari Bank and Sikar Urban Cooperative Bank, Rajasthan.
On Dwarkadas Mantri Nagari Sahakari Bank, the directions have been extended for a further period of three months from close of business on December 09, 2023, to the close of business on March 09, 2024, subject to review. All other terms and conditions of the Directives under reference shall remain unchanged.
RBI extended the period of directions on Defence Accounts Cooperative Bank and National Mercantile Cooperative Bank for a further period of three months from 10TH December 2023 to 10th March 2024.
Similarly, the apex bank extends the directions for the further period of three months on Pune Sahakari Bank and Sikar Urban Cooperative Bank.
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, said RBI in its press release.