RBI has extended direction on the Sikar Urban Co-operative Bank Rajasthan. The UCB was placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months.
“The Directions shall continue to apply to the bank for a further period of three months from March 10, 2022 to June 09, 2022, vide Directive dated March 07, 2022, subject to review” said RBI in a press release.
All the other terms and conditions of the Directive under reference shall remain unchanged. A copy of the above Directive dated March 07, 2022 notifying the extension is displayed at the bank’s premises for the perusal of the public.
The aforesaid extension should not per-se be construed to imply that the Reserve Bank of India is satisfied with the financial position of the bank.