Case Brief
What Happened
The Reserve Bank of India has extended the validity of the All-Inclusive Directions issued to Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan. The earlier directive, first issued on October 26, 2018, had been extended up to June 09, 2023; the June 07, 2023 directive now keeps it in force from June 10, 2023 to September 09, 2023, subject to review. The release states that all other terms and conditions remain unchanged and clarifies that the extension should not be construed as RBI being satisfied with the bank’s financial position.