Case Brief
The Reserve Bank of India extended the existing Section 35A directions issued to Youth Development Co-operative Bank Ltd., Kolhapur, Maharashtra. The earlier directive, first issued on January 4, 2019 and last extended up to July 5, 2020, was continued for a further six-month period from July 6, 2020 to January 5, 2021. The release states that all other terms and conditions remain unchanged and that the extension should not be interpreted as indicating substantive improvement in the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Kolhapur, Maharashtra
- Order Date