Case Brief
The Reserve Bank of India extended the Section 35A directions already imposed on Kapol Co-operative Bank Ltd., Mumbai, Maharashtra. The original directive dated March 30, 2017 was stated to continue to apply for a further period of six months, until March 31, 2018, under Section 35A read with Section 56 of the Banking Regulation Act, 1949. RBI clarified that the extension or modification should not be taken to mean it was satisfied with the bank's financial improvement.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date