Case Brief
The Reserve Bank of India has extended the validity of the Directions already in force against Urban Co-operative Bank Ltd., Sitapur (U.P). The bank had originally been placed under Directions on July 28, 2022, and the latest release extends those Directions up to October 28, 2023, subject to review. The RBI also clarifies that the extension does not mean cancellation of the bank’s banking licence, and that the Directions may be modified depending on circumstances.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Sitapur, Uttar Pradesh
- Order Date