Recorded RBI impact
Extension
Business restriction · Extension
Published by RBI
6 Feb 2016
Case Brief
The Reserve Bank of India notified that Dilip Urban Co-operative Bank Ltd., Barshi, District-Solapur, Maharashtra had been placed under directions from August 08, 2014 under a directive dated August 06, 2014. After two prior six-month extensions, RBI has now extended the same directive for a further three months, from the close of business on February 06, 2016 to May 06, 2016. The release says the other terms and conditions remain unchanged and explicitly notes that the modification should not be construed as RBI being satisfied with any substantive improvement in the bank's financial position.
Why RBI Acted
Dilip Urban Co-operative Bank Ltd., Barshi, was already under RBI directions issued on August 06, 2014 (effective from close of business on August 08, 2014). Those directions had earlier been extended twice for six months each. The present release further extends the same directive for three months from the close of business on February 06, 2016 to May 06, 2016, subject to review, with all other terms and conditions remaining unchanged.
Operating Impact
The bank remains subject to RBI operating restrictions through May 06, 2016, with the same conditions continuing unchanged. Depositors and other stakeholders remain affected by the ongoing supervisory restrictions, which are subject to further review by RBI.
Action Facts
- Primary Impact
- Extension
- Order Date
- 27 Jan 2016
- Effective From
- 6 Feb 2016
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- Co-operative bank