Case Brief
RBI has extended the existing directions imposed on The R S Co-operative Bank Ltd., Mumbai, Maharashtra. The directions, originally effective from June 26, 2015, had already been extended several times; this modified directive extends them again from September 26, 2016 through March 25, 2017, with all other terms and conditions unchanged. The release also notes that withdrawal limits were relaxed earlier from Rs 1,000 to Rs 10,000, but clarifies that the modification should not be interpreted as RBI being satisfied with the bank's financial improvement.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date