Case Brief
RBI has extended the directions already in force against People’s Co-operative Bank Limited, Kanpur (Uttar Pradesh). The bank had been under Section 35A directions since June 10, 2020, and the directive previously valid up to June 10, 2021 was extended again for a further three-month period, from June 11, 2021 to September 10, 2021, subject to review. The release also notes that the modification should not be construed as an 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