Delhi HC: Maintenance is Intended to Safeguard Dependent Spouse & Child’s Right to Live With Dignity  ||  Delhi HC: Any Person in India Has the Right to Legally Import Goods from Abroad  ||  Bombay HC: Can’t Quash Rape Cases on the Basis of Compromise  ||  Madras HC: Can’t Tap Individual’s Phone to Uncover Suspected Crime  ||  Karnataka HC: Women Commuters Oppose Ban on Bike Taxis in Karnataka  ||  Delhi HC: Inclusive Education is About Recognising That Every Child Has a Place in Classroom  ||  Delhi HC: Patanjali to Not Run Ads that are Disparaging to Dabur Products  ||  Delhi HC Upholds Rule Restricting Retention of GPRA by Central Armed Police Forces  ||  Delhi HC: Disability Pension Ensures that a Soldier is Not Left Without Support  ||  SC Declines Petition by Lalit Modi against BCCI Seeking Indemnification    

RBI extends validity of the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh- (Reserve Bank of India) (07 Sep 2016)

MANU/RPRL/0225/2016

Banking

The Reserve Bank of India (RBI) has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from September 12, 2016 to March 11, 2017, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS).

The aforesaid directive has been modified / its validity extended vide RBI directives dated July 30, 2014, December 8, 2014, June 2, 2015, September 7, 2015, October 19, 2015, December 07, 2015 and March 04, 2016. The validity of the directive, which was last extended up to September 11, 2016 has further been extended for a period of six months from September 12, 2016 to March 11, 2017 vide modified directive dated September 02, 2016, subject to review. The other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive dated September 02, 2016 is displayed at the bank's premises for the perusal of public.

The modification of the directive by the Reserve Bank should per se not be construed as improvement or deterioration in the financial position of the bank. The Reserve Bank may consider modifications of the directive depending upon circumstances.

Tags : EXTENSION   DIRECTION   MERCANTILE CO-OPERATIVE BANK  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved