Case Brief
The Reserve Bank of India extended the validity of the directions already applicable to Jamkhed Merchants Co-operative Bank Ltd., Ahmednagar, Maharashtra. The directions had originally been placed on the bank from the close of business on April 12, 2016, later extended to April 12, 2017, and were further extended for two months up to June 12, 2017, subject to review. The RBI noted that the other terms and conditions of the directive remain unchanged and cautioned that the extension should not be taken to mean the bank's financial position had substantively improved.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Ahmednagar, Maharashtra