Case Brief
What Happened
The Reserve Bank of India extended the Section 35A directions originally imposed on The CKP Co-operative Bank Ltd., Mumbai, Maharashtra, by directive dated April 30, 2014. The directions, already extended from time to time and last valid up to September 30, 2019, were continued for a further period of one month from October 1, 2019 to October 31, 2019, subject to review. RBI noted that the extension or modification should not be construed as indicating substantive improvement in the bank's financial position.