Case Brief
The Reserve Bank of India had placed Sarjeraodada Naik Shirala Sahakari Bank Ltd under Directions beginning February 03, 2021 for a period of six months. By the August 02, 2021 directive issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949, RBI extended the applicability of those same Directions until November 03, 2021, subject to review. No other terms were changed, and the bank remains under the existing operating restrictions.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Shirala, Maharashtra
- Order Date