Case Brief
What Happened
The Reserve Bank of India extended the existing directions applicable to The CKP Co-operative Bank Ltd., Mumbai, Maharashtra, which were first issued on April 30, 2014 and last extended up to November 30, 2018. Under the November 27, 2018 directive, the same directions were continued for a further three months from December 1, 2018 to February 28, 2019, subject to review. RBI stated that the extension or modification should not be interpreted as satisfaction with any substantive improvement in the bank’s financial position.