The Reserve Bank of India has directed issued to Kerala Mercantile Co-operative Bank Kozhikode, Kerala earlier, shall continue to apply to the bank for a further period of six months, from December 05, 2019 to June 04, 2020, subject to review.
It was on May 29, 2019 when the Reserve Bank of India has issued Directions to the Kerala Mercantile Co-operative Bank Ltd., Kozhikode, Kerala under Section 35 A read with Section 56 of the BR Act (AACS), 1949 for a period of six months.
The Reserve Bank of India has reviewed the financial position of the said bank and considers it necessary in the public interest to extend the aforesaid directions.
Other terms and conditions of the Directive under reference shall remain unchanged.