Case Brief
The Reserve Bank of India has extended the directions issued to HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh, for a further six months from April 16, 2016 to October 15, 2016, subject to review. The bank had been under directions since April 16, 2015 under Section 35A of the Banking Regulation Act, 1949 (AACS). The directive had already been modified and extended up to April 15, 2016, and has now been extended again without change to the other terms and conditions.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Lucknow, Uttar Pradesh
- Order Date