Case Brief
RBI has extended the validity of the directions issued to U.P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow (Uttar Pradesh). The bank had already been under directions since September 25, 2018 under Section 35A of the Banking Regulation Act, 1949 (AACS), and the earlier period ending March 25, 2019 was extended from March 26, 2019 to September 25, 2019, subject to review. RBI also stated that the modification should not be interpreted as an improvement or deterioration in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Lucknow, Uttar Pradesh
- Order Date