Case Brief
RBI issued directions to Dilip Urban Co-operative Bank Ltd., Barshi, Solapur, Maharashtra under Section 35A of the Banking Regulation Act, 1949 (read with Section 56), effective close of business on August 8, 2014. The directions limit depositor withdrawals to Rs 1,000 per account and prohibit the bank from granting or renewing loans and advances, making investments, incurring liabilities including borrowings and acceptance of fresh deposits, and other specified transactions unless otherwise permitted or approved by RBI.
Action Snapshot
- Primary Impact
- Business restriction
- Entity Type
- Co-operative bank
- Location
- Barshi, Solapur, Maharashtra
- Order Date