Case Brief
The Reserve Bank of India withdrew the Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 that had been issued to Defence Accounts Co-operative Bank Ltd., Pune on 9 March 2023 and extended from time to time. The release states that, after reviewing the bank's financial position, RBI decided in the public interest to withdraw the directions with effect from 16 January 2025.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra
- Order Date