Case Brief
What Happened
The Reserve Bank of India stated that the directions earlier imposed on The C.K.P.Co-operative Bank Ltd., Mumbai, Maharashtra, via directive dated April 30, 2014, would continue for a further three-month period from the close of business on November 1, 2014, subject to review. This is an extension of the existing RBI directions, with no change to the other terms and conditions of the directive. RBI also noted that issuance of the directions should not be taken to mean that there has been substantive improvement in the bank's financial position.