Case Brief
RBI notified that Jijamata Mahila Sahakari Bank Ltd. had already been placed under directions under Section 35A of the Banking Regulation Act, 1949 (AACS) from the close of business on July 10, 2015. By a modified directive dated January 04, 2016, RBI extended the validity of those directions for another six months, from January 10, 2016 to July 09, 2016, subject to review. The release states that the other terms and conditions of the directive remain unchanged and expressly notes that the extension should not be read as evidence of substantive improvement in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Satara, Maharashtra