Case Brief
The Reserve Bank of India has extended the validity of the existing Section 35A directive issued to Bidar Mahila Urban Co-operative Bank Ltd., Bidar, Karnataka. The directive, originally dated February 21, 2019 and earlier valid up to August 31, 2019, was continued unchanged for six more months from September 1, 2019 to February 29, 2020, subject to review. RBI also clarified that the issuance of these directions should not be construed as cancellation of the bank's licence, and that the bank will continue to undertake banking business with restrictions until its financial position improves.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Bidar, Karnataka