Case Brief
The Reserve Bank of India extended the operative Section 35A directions applicable to Shri Anand Co-operative Bank Ltd., Chinchawad, Pune, Maharashtra. The directions had first been placed in force from close of business on June 25, 2019, then extended to March 24, 2020, and were further continued from March 25, 2020 to September 24, 2020. RBI said the other terms and conditions remain unchanged and explicitly cautioned that the extension should not be read as evidence of substantive improvement in the bank's financial condition.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra
- Order Date