Case Brief
The Reserve Bank of India had placed Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad, Telangana under Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 from the close of business on January 02, 2019. Those directions were extended and modified from time to time, with the last extension stated as being up to April 02, 2020. In this release, RBI says it is satisfied that withdrawal is necessary in public interest and therefore withdraws the All Inclusive Directions with effect from March 19, 2020.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- Co-operative bank
- Location
- Hyderabad, Telangana
- Order Date