Case Brief
The Reserve Bank of India extended the directions imposed on The R S Co-operative Bank Ltd., Mumbai, Maharashtra. The bank had originally been placed under directions for six months from the close of business on June 26, 2015, and the modified directive dated December 21, 2015 extended the validity of those directions for another six months, from December 25, 2015 to June 25, 2016. The press release states that all other terms and conditions of the original directive remain unchanged and that the modification should not be taken to imply substantive improvement in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra