RBI has extended the direction on the Kapol Cooperative Bank Ltd Mumbai, Maharashtra for a further period of six months. The UCB was placed under Directions from the close of business on March 30, 2017. The validity of the directions was extended from time-to-time, the last being up to April 30, 2022.
All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated April 29, 2022 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 with the financial position of the bank, clarifies RBI.