Case Brief
RBI has extended the period of operation of the directive originally issued on April 1, 2013 to Amanath Co-operative Bank Ltd., Bengaluru, and last extended on June 29, 2016. The directions will continue for a further six months from January 5, 2017 to July 4, 2017, with all other terms and conditions unchanged and subject to review. RBI clarified that this is not a cancellation of banking licence, but the bank will continue to undertake banking business with restrictions until its financial position improves.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Bengaluru
- Order Date