The Reserve Bank of India has extended the period of operation of its directive on The C.K.P. Cooperative Bank Ltd., for a further period of three months from the close of business on October 31, 2015.
The direction is subject to review. The other terms and conditions of the directive remain unchanged. A copy of the directive dated October 28, 2015 notifying the modification is displayed on the bank’s premises for perusal of public.
The modification of its directive by the Reserve Bank should not, per-se, be construed to imply that Reserve Bank is satisfied of substantive improvement in the financial position of the bank.
The Reserve Bank had placed the C.K.P. Co-operative Bank Ltd., Mumbai under directions for a period of six months in April 30, 2014 from the close of business on May 2, 2014. The validity of the directive was extended for a period of three months, six months and three months each, respectively, on October 21, 2014 (from the close of business on November 1, 2014), January 20, 2015 (from the close of business on January 31, 2015), and July 9, 2015 (from the close of business on July 31, 2015).
