| RBI extends validity of Directions issued to the HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh till April 15, 2017|
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from October 16, 2016 to April 15, 2017, subject to review. The bank had been under directions since the close of business on April 16, 2015 vide directive dated April 10, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified and its validity extended upto October 15, 2016. The same has further been extended upto April 15, 2017 vide directive dated October 07, 2016. The other terms and conditions of the directive shall remain unchanged. A copy of the directive dated October 07, 2016 is displayed at the bank’s premises for the perusal of public.
The Reserve Bank may consider modifications of the directive depending upon circumstances.
Anirudha D. Jadhav
Press Release: 2016-2017/928