Case Brief
The Reserve Bank of India notified that the validity period of directions earlier imposed on Kokan Prant Sahakari Bank Ltd., Mumbai, Maharashtra, has been extended through a modified directive dated January 28, 2013. The extension runs for six months, from February 07, 2013 to August 06, 2013, and the other terms and conditions of the original directions remain unchanged. RBI also clarified that this modification should not be read as evidence of substantive improvement in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date