Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 – The City Co-operative Bank Limited, Mumbai - Extension of period
Case Brief
The Reserve Bank of India extended the existing directions imposed on The City Co-operative Bank Ltd., Mumbai under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, originally placed in April 2018 and previously extended from time to time, were continued up to July 16, 2022, subject to review. RBI also clarified that all other terms and conditions of the directives would remain unchanged.
RBI stated that the directions first placed on The City Co-operative Bank Ltd., Mumbai on April 17, 2018 and extended from time to time would continue to apply till July 16, 2022, subject to review. The order was issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949. All other terms and conditions of the directives remained unchanged.
Severity Assessment
This is a Section 35A extension for a co-operative bank, which is treated as a broad business restriction with severity 4 even though no new terms were added.
The bank continues to operate under the existing RBI directions until July 16, 2022, subject to further review. No fresh relaxation is provided, so the bank remains under the same operational constraints and public-facing restrictions as before.
Published as The City Co-operative Bank Ltd, Mumbai
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