Case Brief
The Reserve Bank of India extended the operative period of the directions originally issued to Lokseva Sahakari Bank Ltd., Pune, and previously extended several times. The latest modified order dated November 11, 2016 extends the directions from November 20, 2016 to May 19, 2017, subject to review, while keeping all other terms and conditions unchanged. RBI also noted that this extension should not be taken to mean it is satisfied with the bank’s substantive financial improvement.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra
- Order Date