Case Brief
What Happened
RBI notified that the validity of directions imposed on Kokan Prant Sahakari Bank Ltd., Mumbai, Maharashtra, had been extended further through a modified directive dated July 29, 2013. The extension covered a period of three months, from August 07, 2013 to November 06, 2013. All other terms and conditions of the original directions remained unchanged. The release also clarifies that the modification should not be taken to mean RBI was satisfied with any substantive improvement in the bank's financial position.