PANJIM: Reserve Bank of India (RBI) on Tuesday further extended restrictions by another three months issued to Madgaum Urban Co-operative Bank Ltd, Margao, from March 3, 2021 to June 2, 2021.
Madgaum Urban Co-operative Bank Ltd was placed under directions vide directive dated April 26, 2019 from the close of business on May 2, 2019 for a period of six months. The validity of the directions was extended from time to time, the last being vide directive dated December 1, 2020 up to March 2, 2021.
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The validity has now been extended for a further period of three months from March 3, 2021 to June 2, 2021, as per the RBI Directive dated March 2, 2021, subject to review, states a release issued by RBI chief general manager Yogesh Dayal.
All other terms and conditions of the directive under reference shall remain unchanged, it adds.
Meanwhile, S K Kar has been appointed as Banking Ombudsman for Goa and Maharashtra (except the districts of Mumbai, Mumbai Suburban and Thane).
