Case Brief
The Reserve Bank of India extended the existing Directions imposed on Karnala Nagri Sahakari Bank Ltd., Panvel, Raigad, Maharashtra. The bank had been placed under Directions from the close of business on June 15, 2020 for six months, and the present release states that those Directions will continue to apply till June 15, 2021, subject to review. RBI also clarified that all other terms and conditions of the original directive remain unchanged and that the extension should not be construed as satisfaction with the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Panvel, Maharashtra
- Order Date