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        FEMA & RBI

        The Merchants’ Co-operative Bank Ltd., Dhule, Maharashtra under RBI Directions

        May 23, 2014

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        It is hereby notified for the information of the public that validity period of directions imposed on The Merchants’ Co-operative Bank Ltd., Dhule, as on December 12, 2012 has been extended for a further period of six months from June 13, 2014 to December 12, 2014 as per modified directive dated May 15, 2014 subject to review. The other terms and conditions remain unchanged. A copy of the direction dated May 15, 2014 notifying the above modification is displayed at the bank’s premises for the perusal of public.

        The aforesaid modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied of substantive improvement in the financial position of the bank.

        Ajit Prasad

        Assistant General Manager

        Extension of regulatory directions on a cooperative bank continued for a further period; other terms unchanged and reviewable. The central banking authority extended its directions to The Merchants' Co-operative Bank Ltd., Dhule for a further six-month period under a modified directive dated May 15, 2014, subject to review; all other terms remain unchanged and the modification is not to be construed as indicating satisfaction of substantive improvement in the bank's financial position.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Extension of regulatory directions on a cooperative bank continued for a further period; other terms unchanged and reviewable.

                                The central banking authority extended its directions to The Merchants' Co-operative Bank Ltd., Dhule for a further six-month period under a modified directive dated May 15, 2014, subject to review; all other terms remain unchanged and the modification is not to be construed as indicating satisfaction of substantive improvement in the bank's financial position.


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