Case Brief
The Reserve Bank of India has extended the directions issued to The Choundeshwari Sahakari Bank Ltd, Ichalkaranji, Kolhapur for a further period of six months, from the close of business on March 01, 2015 to August 31, 2015, subject to review. The bank had already been under these directions since August 28, 2014. The extension was issued under Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies) read with Section 56. The release does not specify any new violation; it simply continues the existing regulatory restriction.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Ichalkaranji, Kolhapur
- Order Date