RBI has further extended the Direction on Rupee Co-operative Bank for a further period of three months from March 01, 2020 to May 31, 2020, subject to review.
All other terms and conditions of the Directives under reference shall remain unchanged.
The Pune based UCB was placed under directions from close of business on February 22, 2013. The validity of the directions was extended from time to time.
A copy of the directive dated February 26, 2020 notifying the above extension is displayed at the bank’s premises for the perusal of public.
There have been several attempts to find a suitable merger plan for the bank but there has been no final word on the issue so far.