"Accordingly, it is hereby notified for the information of the public that the validity of the aforesaid directive dated September 23, 2019, as modified from time to time, has been extended for a further period from July 1, 2021 to December 31, 2021, subject to review," it added.
The PMC Bank had received binding offers from certain investors for its reconstruction, in response to the EOI dated November 3, 2020 floated by the bank.
The decision by the central bank comes at a time when the central bank is in process of restructuring the bank.
Yesterday, Sanjay Raut had said that the central agencies were being used to ‘destabilise’ the Uddhav Thackeray-led government in Maharashtra.
Varsha Raut has been asked to appear before the federal agency in Mumbai. This is the third summons issued to her after she skipped the earlier two on health grounds, they said.
The federal bank said its preliminary findings indicated large-scale irregularities in the scam-hit bank.
Sitharaman said steps are being taken to seize properties of promoters of the PMC Bank, auction such properties and repay depositors with the money obtained.
She, however, said the government is not coming up with a complete solution immediately but it is moving towards better supervision and regulation for cooperative banks.
After finding certain irregularities in the PMC Bank, the Reserve Bank of India (RBI) has barred the bank from carrying out almost all its routine banking activities for six months.
A bench headed by Chief Justice Ranjan Gogoi asked the petitioner to approach High Court for seeking relief on his plea.
