Case Brief
The Reserve Bank of India announced an extension of the existing directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against The Kapol Cooperative Bank Ltd., Mumbai, Maharashtra. The bank had originally been placed under directions from the close of business on March 30, 2017, and the validity had been extended from time to time, with the latest extension continuing the directions until April 30, 2023. The release says all other terms and conditions remain unchanged and that the extension is subject to review.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date