| RBI extends Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh till July 06, 2016|
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of three months from April 07, 2016 to July 06, 2016, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto April 06, 2016. The same has further been extended upto July 06, 2016 vide directive dated March 28, 2016. The other terms and conditions of the directive shall remain unchanged. A copy of the directive dated March 28, 2016 is displayed at the bank’s premises for the perusal of public.
The modification of the directive by the Reserve Bank should per se not be construed as improvement or deterioration in the financial position of the bank. The Reserve Bank may consider modifications of the directive depending upon circumstances.
Press Release : 2015-2016/2345