Case Brief
RBI notified that the directive first issued on April 01, 2013 to Shree Ganesh Sahakari Bank Ltd., Nashik, under Section 35A of the Banking Regulation Act, 1949 (AACS), would continue to apply for a further period of six months from September 30, 2016 to March 29, 2017. The release states that the terms and conditions of the original directive remain unchanged and that the continuation is subject to review. RBI also noted that the modification should not be construed as satisfaction with any substantive improvement in the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Nashik, Maharashtra
- Order Date