Case Brief
The Reserve Bank of India continued the Section 35A directions already in force against The R. S. Co-operative Bank Ltd., Mumbai, Maharashtra. The original directive dated June 24, 2015 had been extended and modified over time, and the latest notice dated July 2, 2018 extends the validity further from July 26, 2018 to January 25, 2019, subject to review. RBI also clarified that the modification should not be taken to indicate that it was satisfied with any substantive improvement in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date