Case Brief
What Happened
The Reserve Bank of India has extended the validity of the All-Inclusive Directions already applicable to Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan. The bank had been placed under these directions from close of business on November 09, 2018, and the validity had last been extended up to close of business on June 09, 2024. Under the June 05, 2024 directive, the same restrictions will continue to apply from close of business on June 09, 2024 to close of business on September 09, 2024, with all other terms and conditions unchanged. RBI also noted that the extension should not be read as approval of the bank’s financial position.