Case Brief
The Reserve Bank of India withdrew the directions previously issued to Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS). The earlier directions, issued on August 24, 2016 and extended up to August 31, 2017, were withdrawn in the public interest with effect from August 18, 2017. The bank was nevertheless stated to continue operating under operational instructions.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- Co-operative bank
- Location
- Hyderabad, Telangana
- Order Date