Case Brief
RBI has continued the Section 35A directions already applicable to Rupee Co-operative Bank Ltd., Pune, Maharashtra. The bank had originally been placed under directions from the close of business on February 22, 2013, and the validity had been extended from time to time, with the latest extension previously running to August 31, 2020. In this release, RBI states that the directive shall continue to apply until November 30, 2020, subject to review. The notice further says this extension or modification should not be construed as RBI being satisfied with the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra