The validity of the above directions imposed on the City Co-operative Bank Ltd., Mumbai dated April 17, 2018 were extended up to October 17, 2019, reads a press release from RBI.
The Directions issued to The City Co-operative Bank have been modified from time to time. Presently the RBI has clarified that all other terms and conditions of the Directives under reference shall remain unchanged.
A copy of the directive dated April 09, 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.