RBI has notified that the Directions on the Seva Vikas Cooperative Bank Ltd., Pune, shall continue to apply to the bank till October 12, 2022, subject to review.
All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated July 11, 2022 notifying the above extension is displayed at the bank’s premises for the perusal of the public.
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.
The UCB was put under Direction from the close of business on October 12, 2021 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to July 12, 2022.