Shri Anand Co-operative Bank, Chinchawad, Pune shall continue to be under Direction of RBI for a further period of three months from December 25, 2019 to March 24, 2020, says RBI in a press release.
The UCB was placed under directions from close of business on June 25, 2019, for a period of six months.
Other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive dated December 23, 2019 notifying the above extension is displayed at the bank’s premises for the perusal of the public.
The aforesaid extension and/or modification 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.