Woes continue for Gomti Nagariya Sahakari Bank

The Reserve Bank of India has extended the Directions issued to the Gomti Nagariya Sahakari Bank Ltd., Jaunpur (Uttar Pradesh) for a further period of four months from July 11, 2018 to November 10, 2018, subject to review.

The bank has been under directions since the close of business on July 10, 2017. The directive which was last modified and extended vide RBI Directive dated January 08, 2018 up to July 10, 2018 has further been extended for a period of four months from July 11, 2018 to November 10, 2018.

The other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive dated June 26, 2018 is displayed at the bank’s premises for the perusal of public.

The extension of the period of the directive by the Reserve Bank should per se not be construed as improvement or deterioration in the financial position of the bank. The Reserve Bank may consider modifications of the directive depending upon circumstances.

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