Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, District - Pune, Maharashtra was placed under directions for a period of six months vide directive dated September 10, 2014 from the close of business on September 12, 2014. The validity of the aforesaid directive was extended thrice for a period of six months vide directive dated March 04, 2015 from the close of business on March 11, 2015; for a period of three months vide directive dated September 1, 2015 from the close of business on September 10, 2015; and for a further period of six months notified from the close of business on December 10, 2015 vide directive dated December 07, 2015.
It is hereby notified for the information of the public that the period of operation of the directive dated September 10, 2014 read with directive dated March 04, 2015, September 01, 2015 and December 07, 2015 has been extended for a further period of three months from June 10, 2016 to September 10, 2016 vide modified directive dated June 06, 2016 subject to review. The other terms and conditions remain unchanged. A copy of the directive dated June 6, 2016 notifying the above modification is displayed at the bank’s premises for the perusal of public.
The aforesaid modification 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 : 2015-2016/2886