Case Brief
RBI notified an extension of the existing directions applicable to Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, District Pune, Maharashtra. The bank had first been placed under directions on September 10, 2014, and those directions were subsequently extended in March 2015 and September 2015. The latest modified directive extends the period of operation of the same directions for a further six months from the close of business on December 10, 2015, subject to review, with all other terms and conditions unchanged. RBI also noted that the modification should not be interpreted as indicating substantive improvement in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pimple Nilakh, Maharashtra