Case Brief
The Reserve Bank of India extended the existing directions issued to Gomati Nagariya Sahakari Bank Ltd., Jaunpur (Uttar Pradesh) under Section 35A of the Banking Regulation Act, 1949 (AACS). The directions, originally effective from close of business on July 10, 2017 and previously extended to November 10, 2018, were extended again for a further period of six months from November 11, 2018 to May 10, 2019, subject to review. The release notes that the extension itself should not be construed as improvement or deterioration in the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Jaunpur, Uttar Pradesh
- Order Date