Case Brief
The Reserve Bank of India extended the existing directions issued to U. P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow, continuing the order from March 26, 2020 to September 25, 2020. The bank had already been under these directions since September 25, 2018, and the latest press release explicitly says the validity of the directive previously extended up to March 25, 2020 has been further extended. No new misconduct findings or penalty are described in this release; it is a periodic continuation of the earlier Section 35A directive, with any future modification left to RBI's review.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Lucknow, Uttar Pradesh