Case Brief
The Reserve Bank of India has continued the Directions already applicable to Shivaji Rao Bhosale Sahakari Bank Ltd., Pune, Maharashtra. The bank had originally been placed under Directions from the close of business on May 04, 2019, and those directions had been extended from time to time. In this release, RBI states that the directions shall continue to apply until June 04, 2021, under Section 35A read with Section 56 of the Banking Regulation Act, 1949, subject to review, with no change to the existing terms and conditions.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra
- Order Date