The CKP Co-operative Bank Ltd, Mumbai, Maharashtra, shall continue to be under RBI’s directions for a further period of four months from December 01, 2017 to March 31, 2018, said the Regulator through a press release on Wednesday.
The UCB was first placed under directions from close of business on May 2, 2014. The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive dated July 26, 2017 and was valid upto November 30, 2017.
A copy of the directive dated November 23, 2017 notifying the above extension is displayed at the bank’s premises for the perusal of public.
The aforesaid extension of Direction by the Reserve Bank of India 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, the release clarifies.