| RBI extends Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh till March 06, 2018|
The Reserve Bank of India has extended directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of four months from November 07, 2017 to March 06, 2018, 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 same has further been extended upto March 06, 2018 vide directive dated November 01, 2017. A copy of the directive dated November 01, 2017 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.
Anirudha D. Jadhav
Press Release: 2017-2018/1251