Case Brief
What Happened
RBI has extended the existing Section 35A directions applicable to The CKP Co-operative Bank Ltd., Mumbai, Maharashtra. The original directions dated April 30, 2014, which had already been extended several times and were last valid up to March 31, 2020, were continued for a further period from April 01, 2020 to May 31, 2020. The release states that all other terms and conditions remain unchanged and explicitly notes that the extension should not be taken to mean RBI is satisfied with the bank’s financial position.