Case Brief
The Reserve Bank of India extended the period of operation of the existing directions issued to Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur, Maharashtra. The original directions were issued on August 06, 2014, later extended from February 08, 2015 to August 07, 2015, and were again modified on July 27, 2015 to continue for a further six months from the close of business on August 07, 2015 to February 06, 2016, subject to review. The release says the other terms and conditions remain unchanged and clarifies that the modification should not be read as RBI being satisfied with any substantive improvement in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Barshi, Maharashtra