Reserve Bank of India which had placed the The City Co-operative Bank Ltd., Mumbai, Maharashtra under Directions has extended the same till July 16, 2021.
The UCB was placed under restriction from the close of business on April 17, 2018 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to January 16, 2021.
All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated January 13, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of the public.
The aforesaid extension and /or modification by Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.