MARGAO
The Reserve Bank of India on Tuesday extended the restrictions imposed on the Madgaum Urban Cooperative Bank by a further period of three months.
RBI’s directions have come on Tuesday a day after the earlier directions were scheduled to end on Wednesday.
The Madgaum Urban Co-operative Bank was placed under directions vide directive dated April 26, 2019, from the close of business on May 02, 2019, for a period of six months. The validity of the above directions was extended from time to time, the last being vide directive dated July 27, 2020, up to December 2, 2020.
