Case Brief
The Reserve Bank of India has extended the directions previously imposed on Shri Anand Co-operative Bank Limited, Chinchwad, Pune, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The bank had originally been placed under directions from the close of business on June 25, 2019, and the validity had already been extended from time to time, last up to November 24, 2021. By the latest directive dated November 24, 2021, the RBI continued those directions until February 24, 2022, with all other terms and conditions unchanged and subject to review.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Chinchwad, Maharashtra