Case Brief
What Happened
RBI has continued the directions originally issued on April 17, 2018 to The City Co-operative Bank Ltd., Mumbai. The earlier directive, already extended up to October 17, 2019, has now been further extended from October 18, 2019 to April 17, 2020 under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The release emphasizes that all other terms and conditions remain unchanged and that the extension should not be construed as RBI being satisfied with any substantive improvement in the bank's financial position.