Case Brief
RBI notified that the directive issued on September 28, 2015 placing Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra under directions under Section 35A of the Banking Regulation Act, 1949 (AACS) would continue to apply for a further six months up to September 30, 2016. The modified directive dated March 29, 2016 leaves all other terms and conditions unchanged and is subject to review. RBI added 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
- Satara, Maharashtra
- Order Date