Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (AACS) – The City Co-operative Bank Ltd., Mumbai, Maharashtra - Extension of period
Case Brief
The Reserve Bank of India has extended the validity of its existing directions on The City Co-operative Bank Ltd., Mumbai, which had first been placed under directions on April 17, 2018. The latest extension continues the same directive from July 17, 2020 to October 16, 2020, subject to review, and states that all other terms and conditions remain unchanged.
The Reserve Bank of India, under Section 35A read with Section 56 of the Banking Regulation Act, 1949, continued the existing directive issued to The City Co-operative Bank Ltd., Mumbai. The bank had originally been placed under directions from April 17, 2018, and the validity had been extended from time to time; this press release extends the same directions further from July 17, 2020 to October 16, 2020, with all other terms and conditions unchanged.
Severity Assessment
This is an RBI Section 35A / AID extension on a co-operative bank, which is treated as a broad business restriction with severity 4 even without a new penalty.
The bank remains under RBI-imposed operating constraints for the extension period, with the earlier restrictions continuing without change. Customers and counterparties are affected indirectly because the bank must continue to operate subject to the existing directions until October 16, 2020, unless RBI modifies or withdraws them earlier.
Published as The City Co-operative Bank Ltd., Mumbai
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.
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