Case Brief
The Reserve Bank of India has extended the validity of its existing All-Inclusive Directions on Punjab and Maharashtra Cooperative Bank Limited (PMC Bank), Mumbai, Maharashtra. The original directions, issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949, were already in force from September 23, 2019. This release continues those directions unchanged from January 1, 2022 to March 31, 2022, subject to review, while the proposed amalgamation scheme with Unity Small Finance Bank Ltd. remains under process.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date