Case Brief
The Reserve Bank of India extended the existing directions applicable to The Udhna Citizen Co-operative Bank Ltd., Surat by a further six months. The bank will continue to operate under those directions from November 2, 2013 through May 1, 2014. The press release notes that the directions were first imposed from the close of business on November 2, 2010, later modified in April 2013, and are issued under Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies) in public interest.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Surat, Gujarat
- Order Date