The R S Co-operative Bank Ltd., Mumbai, Maharashtra, was placed under directions vide directive dated June 24, 2015, from close of business on June 26, 2015. The validity of the directions was extended and modified from time to time vide subsequent Directives, the last being dated March 20, 2017 and was valid upto September 25, 2017, subject to review.
It is hereby notified for the information of the public that the Directive so issued to The R S Co-operative Bank Ltd., Mumbai, Maharashtra dated June 24, 2015, and modified from time to time, has been extended for further period of four months from September 26, 2017 to January 25, 2018 vide order dated September 20, 2017, subject to review.
A copy of the directive dated September 20, 2017 notifying the above modifications is displayed at the bank’s premises for the perusal of public. The aforesaid modifications by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied of substantive improvement in the financial position of the bank.
Press Release : 2017-2018/840