Case Brief
The Reserve Bank of India extended the existing directions that had been imposed on The Kapol Co-operative Bank Ltd., Mumbai, Maharashtra, under Section 35A of the Banking Regulation Act, 1949 read with Section 56. The bank had first been placed under directions from the close of business on March 30, 2017, and the present directive states that those directions will continue to apply until July 31, 2020, subject to review. The release also notes that the extension or modification should not be construed as RBI being satisfied with the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date