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Date: 26/03/2017
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – The R S Co-operative Bank Ltd., Mumbai, Maharashtra

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 January 31, 2017 and was valid upto March 25, 2017 subject to review.

The public is hereby advised that the Directive so issued to 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 six months from March 26, 2017 to September 25, dated March 20, 2017 subject to review.

A copy of the directive dated March 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.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2569

 
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