Case Brief
The Reserve Bank of India extended the validity of directions already imposed on Rupee Co-operative Bank Ltd., Pune, Maharashtra, for six more months, from August 22, 2013 to February 21, 2014. All other terms and conditions remain unchanged. RBI also clarified that the modification is not a cancellation of the bank’s licence, and that the bank will continue to carry on banking business with restrictions until its financial position improves.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra
- Order Date