New Delhi: The Reserve Bank of India extended the validity of the directions from time-to-time, the last being up to November 30, 2020. RBI vide directive dated February 21, 2013, had placed the Rupee Co-operative Bank Ltd., Pune, Maharashtra under Directions from the close of business on February 22, 2013.
Under sub-section (1) of Section 35 A with Section 56 of the Banking Regulation Act, 1949 hereby directs that the aforesaid Directions shall continue to apply to the bank till February 28, 2021.
All the other terms and conditions of the Directives under reference shall remain unchanged. With this, the copy of the directive extension is displayed at the bank’s premises for the perusal of the public.
Therefore RBI mentioned that 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.
Posted Date : 26-11-20
Categories : BANK NEWS