The Reserve Bank of India, in exercise of powers vested in it hereby directs that the Directive dated April 17, 2018, issued to The City Co-operative Bank Ltd., Mumbai as modified from time to time, the validity of which last extended up to October 17, 2019, shall continue to apply to the bank for further period of six months from October 18, 2019 to April 17, 2020, as per the Directive dated October 15, 2019, subject to review.
All other terms and conditions of the Directives under reference shall remain unchanged.
A copy of the directive dated October 15, 2019 notifying the above extension is displayed at the bank’s premises for the perusal of 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.