The Reserve Bank of India has, on August 14, 2013, extended the validity period of directions imposed on Rupee Co-operative Bank Ltd., Pune, Maharashtra for a further period of six months from August 22, 2013 to February 21, 2014. The other terms and conditions remain unchanged. A copy of the Reserve Bank’s direction dated August 14, 2013 notifying the modification is displayed at the bank’s premises for the perusal of public.

The modification should not per se be construed as the Reserve Bank cancelling the banking licence of Rupee Cooperative Bank Ltd. The bank will continue to undertake banking business with restrictions till its financial position improves. The Reserve Bank may consider modifications of these Directions depending upon circumstances.

Ajit Prasad
Assistant General Manager

Press Release : 2013-2014/356