Case Brief
The Reserve Bank of India withdrew the directions previously issued under Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies) to HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh. Those directions had been issued on April 10, 2015 and were extended and modified from time to time, with the last extension running up to April 15, 2018. The withdrawal took effect from April 13, 2018, and RBI stated the bank will continue to undertake regular banking business thereafter.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- Co-operative bank
- Location
- Lucknow, Uttar Pradesh
- Order Date