| RBI extends validity of the Directions issued to the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.)|
The Reserve Bank of India has extended the Directions issued to the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.) for a further period of six months from May 01, 2016 to October 31, 2016, subject to review. The bank has been under directions from close of business of October 31, 2012 vide directive dated October 29, 2012 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive has been extended from time to time for a period of six months latest being from May 01, 2016 to October 31, 2016 vide directive dated April 20, 2016, subject to review.
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 other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive is displayed at the bank’s premises for the perusal of public. The Reserve Bank may consider modifications of the directive depending upon circumstances.
Press Release: 2015-2016/2592