RBI extends curbs on People`s Co-operative Bank Limited by 3 months

The bank has been under restrictions since June 10, 2020, through the directives issued under Section 35A of the Banking Regulation Act, 1949 (AACS). 

The Reserve Bank of India (RBI) has extended restrictions on People`s Co-operative Bank Limited, Kanpur, for a further period of three months from September 11 to December 10.  The bank has been under restrictions since June 10, 2020, through the directives issued under Section 35A of the Banking Regulation Act, 1949 (AACS).  "The validity of the directive, which was last extended up to September 10, 2021, has further been extended for a period of three months from September 11, 2021, to December 10, 2021, vide directive DOR.MON.D-35/12.28.059/2021-22 dated September 8, 2021, subject to review," said an RBI statement on Saturday.