Case Brief
The Reserve Bank of India notified that the Directions previously placed on Shivam Sahakari Bank Ltd., Ichalkaranji, District Kolhapur, Maharashtra, would continue to apply until November 30, 2019, subject to review. The extension was issued under Section 35A of the Banking Regulation Act, 1949 read with Section 56, and the release notes that the extension should not be construed as RBI being satisfied with the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Ichalkaranji, Maharashtra
- Order Date