Case Brief
RBI stated that Lokseva Sahakari Bank Ltd., Pune, Maharashtra, had been placed under directions vide directive dated May 19, 2014, effective from the close of business on May 20, 2014. Those directions were extended from time to time, last by order dated November 11, 2016, and were valid up to May 19, 2017 subject to review. The release also noted that the earlier directions, as modified from time to time, were partially modified on January 25, 2017. The modifications allowed limited set-off of loans against deposits under specified conditions and permitted renewal of certain existing standard and secured CC loan limits, but expressly stated that the changes should not be construed as implying substantive improvement in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location