Case Brief
The Reserve Bank of India notified that the directive issued to Shree Ganesh Sahakari Bank Ltd., Nashik on April 01, 2013 under Section 35A of the Banking Regulation Act, 1949 (AACS) would continue for a further six months, from March 30, 2016 to September 29, 2016. This was a continuation of an existing order that had already been extended several times. The RBI said the other terms and conditions would remain unchanged and noted that the modification should not be interpreted as indicating substantive improvement in the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Nashik, Maharashtra
- Order Date