Case Brief
The Reserve Bank of India extended the directions already applicable to Youth Development Co-op. Bank Ltd., Kolhapur, Maharashtra. The bank had been placed under directions from close of business on January 05, 2019, and the validity of those directions was extended again so they would continue from January 06, 2020 to July 05, 2020, subject to review. The release says the directive’s other terms and conditions remain unchanged and notes that the extension should not be interpreted as evidence of substantive improvement in the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Kolhapur, Maharashtra
- Order Date