No respite for Mumbai’s R.S. Co-op Bank

The R.S. Co-operative Bank Ltd., Mumbai, Maharashtra, which was placed under directions by the apex banker Reserve Bank of India on June 26, 2015 shall continue to be under this notice till July 25, 2018, said a press release from RBI.

The validity of the directions was extended and modified from time to time, the last being Directive dated September 20, 2017 and was valid upto January 25, 2018, subject to review.

A copy of the directive dated January 19, 2018, notifying the above modifications is displayed at the bank’s premises for the perusal of public.

The aforesaid modifications 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, read the release

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