Case Brief
The Reserve Bank of India extended the directions already in force against The Mahamedha Urban Co-operative Bank Ltd., Ghaziabad, Uttar Pradesh. The extension runs for six months, from January 30, 2017 to July 29, 2017, and is subject to review. The release notes that the bank had been under Section 35A directions since July 29, 2016 and that the directive had already been extended earlier up to July 29, 2017. RBI also clarified that the modification should not be interpreted as indicating improvement or deterioration in the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Ghaziabad, Uttar Pradesh
- Order Date