Case Brief
RBI has extended the Directions issued to Shree Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, District-Pune, Maharashtra, for a further six months from the close of business on March 11, 2015, subject to review. The bank had been under these directions since September 12, 2014. The directions were issued under Section 35A of the Banking Regulation Act, 1949 read with Section 56. The release adds that the directions should not be taken to mean RBI was satisfied with any substantive improvement in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pimple Nilakh, Maharashtra
- Order Date