The Reserve Bank of India vide its directive dated 30 March 2017 had placed the The Kapol Cooperative Bank Ltd. Mumbai, Maharashtra under Directions from the close of business on 30 March 2017 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to 31 January 2021.
The Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till April 30, 2021 as per the directive DOR.CO.AID No. D-55/12.22.111/2020-21 dated 29 January 2021, subject to review.
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