Case Brief
The Reserve Bank of India has extended the validity of the All-Inclusive Directions already in force against Sumerpur Mercantile Urban Co-operative Bank Limited, Sumerpur, Rajasthan. The original directions were issued on December 05, 2022 and applied from close of business on December 06, 2022 for six months. The June 06, 2023 directive continues those directions for a further three months, from June 07, 2023 to September 06, 2023, with no other change to the terms and conditions. RBI also clarified that the extension should not be taken to mean it is satisfied with the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Sumerpur, Rajasthan