Case Brief
The Reserve Bank of India has extended the existing Section 35A directions applicable to Shri Ganesh Sahakari Bank Ltd., Nashik, Maharashtra. These directions had originally been issued from the close of business on April 01, 2013, and the latest order continues them for three months, from December 30, 2018 to March 28, 2019. RBI says the bank will continue to undertake banking business with restrictions, and clarifies that the issuance of directions should not be taken as cancellation of the bank’s licence.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Nashik, Maharashtra
- Order Date