Case Brief
The Reserve Bank of India has extended the validity of the directions issued to Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.) from May 01, 2016 to October 31, 2016, subject to review. These directions had originally been issued under Section 35A of the Banking Regulation Act, 1949 (AACS) and had already been extended from time to time. The release says the modification should not be construed as improvement or deterioration in the bank's financial position and that all other terms and conditions remain unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Bhopal, Madhya Pradesh
- Order Date