Case Brief
The Reserve Bank of India notified that Shatabdi Mahila Sahakari Bank Ltd., Thane, District-Thane, Maharashtra had been under directions since August 20, 2014, and that those directions were previously extended on February 04, 2015 and July 21, 2015. RBI further extended the period of operation of the directive, subject to review, from the close of business on November 17, 2015 to May 17, 2016 under a modified directive dated November 04, 2015. The release says the other terms and conditions remain unchanged and cautions that the modification should not be construed as evidence of substantive improvement in the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Thane, Maharashtra