Case Brief
The Reserve Bank of India extended the existing Directions issued to The Faiz Mercantile Cooperative Bank Ltd., Nashik under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The original directive, dated March 2, 2023, had been in force for six months up to September 3, 2023. RBI has now continued the same directive for a further three months from September 4, 2023 to December 3, 2023, and stated that all other terms and conditions remain unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Nashik, Maharashtra
- Order Date