Case Brief
The Reserve Bank of India has extended the validity of the directions issued to People’s Co-operative Bank Limited, Kanpur (U.P.) under Section 35A of the Banking Regulation Act, 1949 (AACS). The earlier directions, already in force since June 10, 2020, were last extended up to December 10, 2021 and have now been continued from December 11, 2021 to March 10, 2022, subject to review. The release does not cite any new violation or additional penalty; it simply keeps the bank under the existing regulatory restriction.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Kanpur, Uttar Pradesh
- Order Date