Shri Chhatrapati Urban Co-operative Bank based at Pimple Nilakh in Pune was placed under directions for a period of six months from the close of business on September 12, 2014.
The validity of the aforesaid directive was further extended for a period of six months vide directive dated March 04, 2015 from the close of business on March 11, 2015.
RBI release read “It is hereby notified for the information of the public that the period of operation of the directive dated September 10, 2014 read with directive dated March 04, 2015 has been extended for a further period of three months from the close of business on September 10, 2015 vide our modified directive dated September 01, 2015 subject to review.”
The other terms and conditions remain unchanged. A copy of the directive dated September 01, 2015 notifying the above modification is displayed at the bank’s premises for the perusal of public.
The aforesaid 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, it adds.