The Needs of Life Co-op. Bank Ltd

RBI extended the existing Section 35A directions on The Needs of Life Co-op. Bank Ltd, Mumbai for another six months. The prior restrictions remain in force unchanged.

The bank continues to operate under the same RBI-imposed restrictions through April 30, 2021, subject to review. Depositors, borrowers, and counterparties remain affected by whatever operational caps or conditions were already in place under the earlier directions.

• Section 35A
• Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Section 35A directions on The Needs of Life Co-op. Bank Ltd., Mumbai, for another six months. The earlier conditions remain unchanged.

The bank continues to operate under the same RBI restrictions through October 31, 2020, subject to review. Customers and counterparties remain affected by the existing conditions imposed under the directions, and no relaxation of the operating constraints is implied by the extension.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949

RBI extended the Section 35A directions on The Needs of Life Co-op. Bank Ltd., Mumbai, for another six months. The prior conditions continue unchanged.

The bank remains subject to the same operational constraints imposed under the Section 35A directions through April 29, 2020, unless modified earlier on review. The restriction continues to affect the bank and, indirectly, its customers and counterparties by keeping the existing controls in place.

• Section 35A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949

RBI extended its Section 35A directions on The Needs of Life Co-op. Bank Ltd., Mumbai for another six months. The existing restrictions remained unchanged.

The bank remains subject to the same RBI-imposed operational restrictions through October 29, 2019, with no change in conditions. The action affects the bank and, indirectly, its customers and counterparties, who continue to deal with the institution under restricted operating conditions.

• Section 35A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949