Case Brief
What Happened
The Reserve Bank of India extended the validity of the All-Inclusive Directions issued to Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan. The original directions, issued on October 26, 2018, had been in force since close of business on November 09, 2018 and were last extended up to June 09, 2022. By directive dated June 07, 2022, RBI continued those directions unchanged for a further period from June 10, 2022 to September 09, 2022, subject to review. The release states that all other terms and conditions remain unchanged and that the extension should not be construed as RBI being satisfied with the bank’s financial position.