RBI extends curbs on Mumbai-based The Needs of Life coop bank for 6 months

In an order, the central bank said the directive issued by it on October 26, 2018 "shall continue to apply to the bank for a further period of six months from April 30, 2020 to October 31, 2020". It also added that extension and/or modification "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.

from Banking/Finance-Industry-Economic Times https://ift.tt/3f2OzDu