The Reserve Bank of India issued has extended the Directions to the Adoor Co-operative Urban Bank Ltd, Adoor, Kerala for a further period of three months, from May 10, 2020 to August 09, 2020, subject to review.
Other terms and conditions of the Directive under reference, as modified from time to time, shall remain unchanged.
The UCB was first placed under Direction from close of business on November 9, 2018 for a period of six months, which were last extended for a further period of six months up to May 09, 2020.
The Reserve Bank of India has reviewed the financial position of the said bank and considers it necessary in public interest to extend the aforesaid directions, read a release from the RBI.