SITE MAP     CONTACT US     DISCLAIMER  
   About Us     Useful Information     FAQs     Financial Education     Complaints   Other Links   Extra Curricular
Search
Period
From  
To  
Archives
   
Home >> PressReleases - Display
Note : To obtain an aligned printout please download the (372.00 kb ) version to your machine and then use respective software to print the story.
Date: 04/04/2016
RBI extends validity of the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut, Uttar Pradesh

The Reserve Bank of India (RBI) has extended the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut for a further period of Six months from April 06, 2016 to October 05, 2016, subject to review. The bank has been under directions since October 06, 2015 vide directive dated September 30, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS).

The validity of the aforesaid directive has been extended for a period of six months from April 06, 2016 to October 05, 2016 vide modified directive dated March 29, 2016, subject to review. The other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive dated March 29, 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.

Ajit Prasad
Assistant Adviser

Press Release : 2015-2016/2334

 
  © Reserve Bank of India. All Rights Reserved.

Best viewed in 1024x768 resolution in IE 5 and above.