Case Brief
The Reserve Bank of India extended the directions already issued to The Hardoi Urban Co-operative Bank Ltd., Hardoi, Uttar Pradesh, for a further period of six months from January 30, 2017 to July 29, 2017, subject to review. The bank had been under Section 35A directions since July 29, 2016, and those directions had previously been extended up to July 29, 2017 by a directive dated January 23, 2017. The release does not specify the underlying reasons for the original directions, but it makes clear that the order remains in force and may be modified depending on circumstances.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Hardoi, Uttar Pradesh