Case Brief
The Reserve Bank of India had placed Youth Development Cooperative Bank Limited, Kolhapur, Maharashtra under Directions from January 05, 2019, and those directions had already been extended from time to time. In this release, RBI states that the Directions shall continue to apply until April 05, 2021, subject to review, under Section 35A read with Section 56 of the Banking Regulation Act, 1949. All other terms and conditions remain unchanged, and RBI clarifies that the extension should not be taken to mean it is satisfied with the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Kolhapur, Maharashtra
- Order Date