Case Brief
The Reserve Bank of India has extended the Directions previously imposed on Maratha Sahakari Bank Ltd., Mumbai, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The original directions were placed on the bank with effect from the close of business on August 31, 2016 and had already been extended from time to time, most recently up to June 30, 2021. The latest directive, dated June 29, 2021, continues those directions until September 30, 2021, subject to review, with all other terms and conditions unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date