While urban cooperative banks are battling with the new budgetary direction of filing TDS of depositors , there are some UCBs not eager at all to mend their ways. Pune based Shree Chhatrapati Urban Co-op Bank is one of them.
RBI has extended Directions issued to Shree Chhatrapati Urban Co-operative Bank for a period of six months. The directions would be operational from the close of business on March 11,2015, read a press release from the apex bank.
The Reserve Bank of India has , however clarified that the Directions would be subject to review. The bank was under directions since September 12, 2014.
Only last week we published the news report of the Choundeshwari Sahakari Bank based in Ichalkaranji, Kolhapur whose Direction period was also extended by the regulator RBI.
