Case brief
RBI extended its existing Section 35A directions on Bhilwara Mahila Urban Co-operative Bank Ltd. for another four months. The earlier conditions continue unchanged.
Impact
The bank remains subject to the same RBI-imposed operating conditions for the extended period, with no relaxation of the earlier directives. Any affected customers and counterparties continue to operate under those restrictions until July 09, 2018 or further review.
Why RBI acted
Regulatory basis
- Section 35 A read with Section 56 of the Banking Regulation Act, 1949