Case Brief
The Reserve Bank of India withdrew the directions earlier issued under Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies) to U.P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow, Uttar Pradesh. The directions had been issued on September 19, 2018 and extended and modified from time to time, with the last extension up to December 25, 2020. RBI stated that it was acting in the public interest under Section 35A(2).
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- Co-operative bank
- Location
- Lucknow, Uttar Pradesh
- Order Date