Case Brief
The Reserve Bank of India has extended the Directions applicable to United Co-operative Bank Limited, Bagnan, West Bengal for a further period of three months, from January 19, 2021 to April 18, 2021. These directions had originally been issued on July 18, 2018 and were previously extended from time to time. The release says the bank will continue to carry on banking business with restrictions until its financial position improves, and notes that the order is not to be treated as cancellation of the banking licence.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Bagnan, West Bengal
- Order Date