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    The Reserve Bank of India has extended the directions on Rupee Co-operative Bank Ltd in Pune, Maharashtra until February 28, 2021. The bank had initially been placed under directions by RBI in February 2013 due to financial issues. The directions have since been extended periodically, with the latest extension being until November 30, 2020. RBI has now further extended the directions for another 3 months until February 2021, but this does not mean that RBI is satisfied with the bank's financial position.

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    Vi - 4

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    A-Series Official
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    The Reserve Bank of India has extended the directions on Rupee Co-operative Bank Ltd in Pune, Maharashtra until February 28, 2021. The bank had initially been placed under directions by RBI in February 2013 due to financial issues. The directions have since been extended periodically, with the latest extension being until November 30, 2020. RBI has now further extended the directions for another 3 months until February 2021, but this does not mean that RBI is satisfied with the bank's financial position.

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    The Reserve Bank of India has extended the directions on Rupee Co-operative Bank Ltd in Pune, Maharashtra until February 28, 2021. The bank had initially been placed under directions by RBI in February 2013 due to financial issues. The directions have since been extended periodically, with the latest extension being until November 30, 2020. RBI has now further extended the directions for another 3 months until February 2021, but this does not mean that RBI is satisfied with the bank's financial position.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    25 views1 page

    Vi - 4

    Uploaded by

    A-Series Official
    The Reserve Bank of India has extended the directions on Rupee Co-operative Bank Ltd in Pune, Maharashtra until February 28, 2021. The bank had initially been placed under directions by RBI in February 2013 due to financial issues. The directions have since been extended periodically, with the latest extension being until November 30, 2020. RBI has now further extended the directions for another 3 months until February 2021, but this does not mean that RBI is satisfied with the bank's financial position.

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    of 1

    �ेस �काशनी PRESS RELEASE

    भारतीय �रज़वर् ब�क


    RESERVE BANK OF INDIA
    संचार िवभाग, क� �ीय कायार्लय, एस.बी.एस.मागर्, मुंबई-400001 0वेबसाइट : www.rbi.org.in/hindi
    _____________________________________________________________________________________________________________________
    Department of Communication, Central Office, S.B.S.Marg, Mumbai-400001 Website : www.rbi.org.in
    फोन/Phone: 022- 22660502 ई-मेल/email: helpdoc@rbi.org.in

    November 26, 2020

    Directions under Section 35A of the Banking Regulation Act, 1949 (AACS)-
    Rupee Co-operative Bank Ltd., Pune, Maharashtra – Extension of Period

    The Reserve Bank of India vide directive UBD.CO.BSD I/D-28/12.22.218/2012-13


    dated February 21, 2013 had placed the Rupee Co-operative Bank Ltd., Pune,
    Maharashtra under Directions from the close of business on February 22, 2013. The
    validity of the directions was extended from time-to-time, the last being up to
    November 30, 2020.

    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 35 A read with
    Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative
    Societies), hereby directs that the aforesaid Directions shall continue to apply to the
    bank till February 28, 2021 subject to review, as per the directive DOR.AID/D-
    35/12.22.218/2020-21 dated November 24, 2020.

    3. All other terms and conditions of the Directives under reference shall remain
    unchanged. A copy of the directive dated November 24, 2020 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 with the
    financial position of the bank.

    (Yogesh Dayal)
    Press Release: 2020-2021/691 Chief General Manager

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