Case Brief
The Reserve Bank of India notified that Dilip Urban Co-operative Bank Ltd., Barshi, District-Solapur, Maharashtra had been placed under directions from August 08, 2014 under a directive dated August 06, 2014. After two prior six-month extensions, RBI has now extended the same directive for a further three months, from the close of business on February 06, 2016 to May 06, 2016. The release says the other terms and conditions remain unchanged and explicitly notes that the modification should not be construed 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