Case Brief
The Reserve Bank of India has extended the period of its existing directions issued to Babaji Date Mahila Sahakari Bank Limited, Yavatmal, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, originally issued on November 8, 2021 and previously extended, were continued for a further three months from November 9, 2022 to February 8, 2023, subject to review. The release says that all other terms and conditions remain unchanged and clarifies that the directions should not be construed as cancellation of the bank's licence. The bank may continue banking business, but only with restrictions until its financial position improves.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Yavatmal, Maharashtra