Case Brief
RBI notified that the validity of directions earlier imposed on The Merchants’ Co-operative Bank Ltd., Dhule, has been extended for a further six months, from December 13, 2013 to June 12, 2014. The modified directive issued on December 3, 2013 leaves all other terms and conditions unchanged and is subject to review. RBI also clarified that the modification should not be taken to mean that it is satisfied with any substantive improvement in the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Dhule, Maharastra
- Order Date