Case Brief
The Reserve Bank of India extended the validity of the directions issued to People’s Co-operative Bank Ltd., Kanpur, Kanpur, Uttar Pradesh. The bank had been under directions since June 10, 2020, and the earlier directive valid up to December 10, 2020 was extended for a further six months from December 11, 2020 to June 10, 2021, subject to review. The release states that the modification should not be construed as improvement or deterioration in the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Kanpur, Uttar Pradesh
- Order Date