Case Brief
The Reserve Bank of India has extended the validity of its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Colour Merchants Co-operative Bank Ltd., Ahmedabad. The directive, originally issued on September 25, 2023 and previously extended up to close of business on December 25, 2024, is now extended for a further period of three months, up to close of business on March 25, 2025, subject to review. The RBI states that all other terms and conditions of the directive remain unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Ahmedabad, Gujarat
- Order Date