Case Brief
The Reserve Bank of India has extended the existing directions imposed on Kolikata Mahila Co-operative Bank Limited, Kolkata, West Bengal, under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS). The order had originally been issued from the close of business on July 09, 2019 and was last extended up to October 09, 2020; it is now extended further from October 10, 2020 to January 09, 2021. RBI says the bank will continue to undertake banking business with restrictions until its financial position improves, and that modifications may be considered depending on circumstances.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Kolkata, West Bengal