The Reserve Bank of India (RBI) has extended the Directions issued to the U. P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow for a further period of three months from September 26, 2020 to December 25, 2020, subject to review. The bank has been under directions since September 25, 2018 vide directive DCBS.CO.BSD-IV/D-1/12.28.029/2018-19 dated September 19, 2018 issued under Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949 (AACS).
The validity of the directive, which was last extended up to September 25, 2020 has further been extended for a period of three months from September 26, 2020 to December 25, 2020 vide directive No.DoR.CO.AID/D-22/12.28.029/2020-21 dated September 18, 2020, subject to review. A copy of the directive dated September 18, 2020 is displayed at the bank’s premises for the perusal of public.
The modification of the directive by the Reserve Bank should per se not be construed as improvement or deterioration in the financial position of the bank. The Reserve Bank may consider modifications of the directive depending upon circumstances.
Press Release: 2020-2021/398
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