Case Brief
The Reserve Bank of India extended the period of operation of its existing directions against Lokseva Sahakari Bank Ltd., Pune, Maharashtra. The original directions were issued on May 19, 2014 and had already been extended twice; the latest modified order dated November 04, 2015 continued them from November 19, 2015 to May 19, 2016. RBI stated that the other terms and conditions of the directive would remain unchanged and that the extension should not be interpreted as satisfaction with the bank's financial improvement.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra
- Order Date