Reserve Bank of India (RBI) vide directive DCBS.CO.BSD-I/D-5/12.22.039/2017-18 dated April 17, 2018 had placed The City Co-operative Bank Ltd., Mumbai, Maharashtra under Directions from the close of business on April 17, 2018. The validity of the directions was extended from time-to-time, the last being up to July 16, 2021.
2. It is hereby notified for the information of the public that, Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till October 16, 2021 as per the directive DOR.MON.D-24/12.22.039/2021-22 dated July 15, 2021, subject to review.
3. All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated July 15, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of public.
4. The aforesaid extension and /or modification by 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.
Press Release: 2021-2022/550