Case Brief
The Reserve Bank of India has further extended the period of operation of its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against HCBL Co-operative Bank Ltd., Lucknow. The directive, originally issued on February 23, 2023 and last extended up to February 24, 2025, will now remain in force from close of business on February 24, 2025 until close of business on May 24, 2025, subject to review. RBI says the extension is in the public interest and that all other terms and conditions of the directive remain unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Lucknow, Uttar Pradesh