Case Brief
What Happened
RBI notified an extension of the existing directions imposed on The Kapol Co-operative Bank Ltd., Mumbai under Section 35A of the Banking Regulation Act, 1949 (read with Section 56). The bank had originally been placed under directions on March 30, 2017, and those directions had been extended earlier up to July 31, 2019. The current release extends the same directive for a further six months, from August 1, 2019 to January 31, 2020, subject to review, while leaving all other terms and conditions unchanged.