The Direction of Shri Anand Co-operative Bank Ltd. Chinchawad, Pune shall continue to apply to the bank for a further period of six months from March 25, 2020 to September 24, 2020, RBI said in release, according to a late news coming to our desk.
The UCB was placed under directions from close of business on June 25, 2019, which was extended earlier.
It is hereby notified for the information of the public that, the Reserve Bank of India, in 3. Other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive dated March 19, 2020 notifying the above extension is displayed at the bank’s premises for the perusal of the 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.