The Direction on beleaguered Mumbai based CKP Co-operative Bank has been extended once again to September 30, 2019, according to a RBI press release.
The UCB was first placed under directions vide directive dated April 30, 2014, from close of business on May 2, 2014. The validity of the directions was extended from time to time.
A copy of the Directive dated June 24, 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, clarifies the release.