Case Brief
The Reserve Bank of India withdrew the directions that had been issued to Bally Co-operative Bank Limited, Bally, Howrah, West Bengal under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS). Those directions had been in force from November 14, 2006 until further orders. RBI stated that, in the public interest, it was withdrawing the directions with effect from December 7, 2016. The bank would continue to operate under operational instructions.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- Co-operative bank
- Location
- Bally, West Bengal
- Order Date