The Reserve Bank of India (vide directive UBD.CO.BSD I/D-28/12.22.218/2012-13 dated February 21, 2013) had placed the Rupee Co-operative Bank Ltd., Pune under Directions from the close of business on February 22, 2013. The validity of the directions was extended from time-to-time, the last being up to August 31, 2020.
2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949 read with Section 56 of the said Act, hereby directs that the aforesaid Directive shall continue to apply to the bank till November 30, 2020 subject to review, vide directive DOR.AID/D-15/12.22.218/2020-21 dated August 25, 2020.
3. A copy of the aforesaid directive notifying the extended period is displayed at the bank’s premises for the perusal of public.
4. 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.
Chief General Manager
Press Release: 2020-2021/257