RBI issue Directions to CKP Co-operative Bank Ltd, Mumbai, Maharashtra

CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated April 30, 2014 from the close of business on May 2, 2014. The validity of the directions was extended vide directives dated October 21, 2014 for a period of three months; dated January 20, 2015 for a period of six months; dated July 9, 2015 for a period of three months ; dated October 28, 2015 for a period of three months and dated January 19, 2016 for a period of six months. It is hereby notified for the information of the public that the period of operation of the directive dated April 30, 2014 read with directives dated October 21, 2014, January 20, 2015, July 9, 2015, October 28, 2015 and January 19, 2016 has been extended for a further period of six months from August 01, 2016 to January 31, 2017 vide our directive dated July 28, 2016, subject to review. The other terms and conditions of the directive under references remain unchanged.

A copy of the directive dated July 28, 2016 notifying the above extension and modification is displayed at the bank’s premises for the perusal of public.

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: 2016-2017/269

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