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Date: 31/07/2017
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – The CKP Co-operative Bank Ltd, Mumbai, Maharashtra

The CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions vide directive UBD.CO.BSD-I. No.D-34/12.22.035/2013-14 dated April 30, 2014, from close of business on May 2, 2014. The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive DCBR.CO.AID.No.D-27/12.22.035/2016-17 dated January 27, 2017 and was valid upto July 31, 2017 subject to review.

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 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive UBD.CO.BSD.I. No. D-34/12.22.035/2013-14 dated April 30, 2014, as modified from time to time, issued to the above bank, the validity of which was last extended upto July 31, 2017 shall continue to apply to the bank for a further period of four months from August 01, 2017 to November 30, 2017, vide Directive DCBR.CO.AID.No,D-04/12.22.035/2017-18 dated July 26, 2017 subject to review.

3. A copy of the directive dated July 26, 2017 notifying the above extension 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 of substantive improvement in the financial position of the bank.

Ajit Prasad
Assistant Adviser

Press Release: 2017-2018/296

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