Case Brief
The Reserve Bank of India has extended the existing directions issued to Shankarrao Mohite Patil Sahakari Bank Ltd., Akluj under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The original directive, dated February 23, 2023, had been in force for six months up to August 24, 2023. RBI has now continued the same directive for a further period of three months, from August 25, 2023 to November 24, 2023, subject to review, with all other terms and conditions unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Akluj, Maharashtra
- Order Date