Case Brief
The Reserve Bank of India has further extended the period of operation of its directions issued to Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, District Pune, Maharashtra. The bank had already been placed under directions from September 12, 2014 and the validity had been extended once earlier; this latest modified directive extends the same order for another three months from the close of business on September 10, 2015, subject to review. RBI says the other terms and conditions remain unchanged and expressly notes that the modification should not be taken to mean the bank’s financial position has substantively improved.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pimple Nilakh, Maharashtra