Case Brief
RBI reviewed Hindu Cooperative Bank Limited’s liquidity position and ability to pay depositors and decided to enhance the depositor withdrawal limit from ₹25,000 to ₹50,000, inclusive of the earlier limit. The bank had already been placed under All-Inclusive Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949, effective from close of business on March 25, 2019, in the interest of depositor protection. This release only relaxes the withdrawal ceiling; the underlying directions continue and all other terms remain unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pathankot, Punjab
- Order Date