Case Brief
RBI issued a modified directive on June 22, 2016 extending the validity of directions applicable to The R S Co-operative Bank Ltd., Mumbai, Maharashtra, from June 26, 2016 to September 25, 2016, subject to review. These directions had originally been imposed on June 24, 2015 for six months and were earlier extended on December 21, 2015. The release explicitly says the other terms and conditions remain unchanged and that the extension should not be taken to mean RBI is satisfied with the bank's substantive improvement in its financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date