Case Brief
The Reserve Bank of India extended the validity of the directions imposed on Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh for three more months, from December 12, 2015 to March 11, 2016, subject to review. These directions were originally issued under Section 35A of the Banking Regulation Act, 1949 (AACS) and had been modified/extended several times earlier. The press release states that the other terms and conditions of the directive remain unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Lucknow, Uttar Pradesh
- Order Date