Shivam Sahakari Bank, Ichalkaranji located in the District Kolhapur in Maharashtra will continue to be under RBI’s directions till November 30, says a press release from the regulator.
“The Reserve Bank of India had placed the Shivam Sahakari Bank under Directions from the close of business on May 19, 2018. The aforesaid Directive shall continue to apply to the bank till November 30, 2019, subject to review.
A copy of the aforesaid directive notifying the extended period is displayed at the bank’s premises for the perusal of public.
The aforesaid extension or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.