The Reserve Bank of India (RBI) has extended the directions issued to United India Co-operative Bank Limited, Nagina, Bijnor (U.P.) for a period of three (03) months from April 23, 2023 to July 22, 2023 subject to review. The bank has been under directions from the close of business of July 22, 2022 vide directive order CO.DOS.SED.No.S2573/12-07-005/2022-23 dated July 21, 2022 issued under section 35 A read with section 56 of the Banking Regulation Act, 1949 (AACS). The said directions were extended till April 22, 2023 vide directive ref. DOR.MON.No.D-64/12.28.085/2022-23 dated January 20, 2023.

The validity of the directive has been extended for a period of three (03) months from April 23, 2023 to July 22, 2023 vide directive order DOR.MON.D-13/12.28.085/2023-24 dated April 21, 2023 subject to review. A copy of the directive order dated April 21, 2023 is displayed at the bank’s premises for the perusal of public.

The issue of the above Directions by the RBI should not per se be construed as cancellation of banking license by RBI. The Reserve Bank may consider modifications of these Directions depending upon circumstances.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/110