The matter would be reviewed once this period ends, read a press release from the apex bank of the land. The release also pointed out that the other terms and conditions remain unchanged.
RBI has directed the Rupee Bank to display a copy of the direction dated August 19, 2014 notifying the above modification for the perusal of public.
“The aforesaid modification by the Reserve Bank of India should not per-se be construed as cancellation of banking licence by RBI. The bank will continue to undertake banking business with restrictions till its financial position improves. The Reserve Bank may consider modifications of these Directions depending upon circumstances”, the release added.