Case Brief
The Reserve Bank of India extended the validity of the existing directions issued to Rupee Co-operative Bank Ltd., Pune, Maharashtra, originally placed under directions from February 22, 2013. Through the directive dated February 26, 2020, the earlier order, last extended up to February 29, 2020, was continued for a further three months from March 01, 2020 to May 31, 2020, subject to review. RBI also clarified that all other terms and conditions of the directives remain unchanged and that the extension should not be taken to mean RBI is satisfied with any substantive improvement in the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra