Reserve Bank of India, on being satisfied that in the public interest it is necessary to do so, has withdrawn Directions with effect from April 10, 2021, from Kolikata Mahila Co-operative Bank, West Bengal, reads a press release from the regulator.
It was on June 27,2019 that the UCB was subjected to Directions. Later it was extended and modified from time to time, last being up to April 09, 2021.
A week earlier, Reserve Bank of India had withdrawn with effect from April 05, 2021, All Inclusive Directions issued to Youth Development Co-operative Bank Limited, Kolhapur, Maharashtra.