RBI’s Directions on the R.S. Co-operative Bank Ltd., Mumbai, Maharashtra has been extended again for a period of six months from July 26, 2018 to January 25, 2019, said the regulator in a press release.
The UCB was placed under directions on June 24, 2015, from close of business on June 26, 2015. The validity of the directions was extended and modified from time to time, the last being Directive dated January 19, 2018 and was valid upto July 25, 2018.
A copy of the directive dated July 02, 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.