Case Brief
The Reserve Bank of India has withdrawn the Directions earlier issued to Sangli Sahakari Bank Ltd., Mumbai, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. Those directions had been in force and extended from time to time, but RBI decided to lift them after reviewing the bank's financial position. The withdrawal took effect from the close of business on December 27, 2024.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date