Reserve Bank of India has extended the Directions on the City Co-operative Bank Ltd., Mumbai till October 16, 2021 as per a letter issued on July 15, 2021, subject to review.
The UCB was fort placed under direction on April 17, 2018. The validity of the directions was extended from time-to-time, the last being up to July 16, 2021.
All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated July 15, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of public.
The aforesaid extension and /or modification by Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank, clarifies the RBI.