Case Brief
The Reserve Bank of India has extended the existing directions issued to The Adoor Co-operative Urban Bank Ltd, Adoor, Kerala under Section 35A read with Section 56 of the BR Act (AACS), 1949. The directions, originally issued on November 02, 2018 and last extended up to August 09, 2020, will now continue for a further four months from August 10, 2020 to December 09, 2020. The RBI stated that it reviewed the bank's financial position and found it necessary in public interest to keep the directions in force. The earlier terms and conditions remain unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Adoor, Kerala
- Order Date