PRIMARYRBI Press Releases·13 Jun 2026neutral

Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 – Mogaveera Co-operative Bank Ltd., Bombay

AI Summary

·The Reserve Bank of India (RBI) has issued directions to Mogaveera Co-operative Bank Ltd., Bombay.
·These directions, effective from the close of business on June 12, 2026, restrict the bank's operations.
·The bank requires prior written approval from the RBI for granting loans, making investments, incurring liabilities, and accepting deposits.