Case Brief
The Reserve Bank of India has extended the period of operation of the earlier directives issued to The Bhopal Nagrik Sahakari Bank Limited, Bhopal. The directive dated October 29, 2012, as last extended up to July 31, 2017 and read with the directive dated January 25, 2017, will continue to apply for a further six months from August 01, 2017 to January 31, 2018, subject to review. RBI also clarified that the order should not be construed as cancellation of the bank's licence and that the bank may continue banking business, but only with restrictions pending further review.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Bhopal, M.P.
- Order Date