RBI has extended Direction on Nashik Zilla Girna Sahakari Bank for a period of six months from March 10, 2017 to September 09, 2017, reads a press release from the apex regulator.
Nashik Zilla Girna Sahakari Bank based in Nashik, Maharashtra, was placed under directions for the first time for a period of six months from the close of business on September 9, 2015.
The validity of the directions was extended several times in the past. “The other terms and conditions of the directive under reference remain unchanged”, RBI said.
A copy of the directive dated March 07, 2017 notifying the above extension will be displayed at the bank’s premises for the perusal of public.
The extension by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied of substantive improvement in the financial position of the bank, the release clarifies.