Case Brief
The Reserve Bank of India has extended the directions issued to Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh, for a further period of six months from January 07, 2017 to July 06, 2017, subject to review. The bank had been under directions under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The earlier directive had already been modified and extended up to January 06, 2017, and this release extends it again via the directive dated December 30, 2016. The press release notes that the modification should not be construed as improvement or deterioration in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Kanpur, Uttar Pradesh