The Reserve Bank of India has extended directions on Pune based Shivajirao Bhosale Sahakari Bank for next six months.
“RBI hereby directs that the aforesaid Directive shall continue to apply to the bank till May 04, 2020 subject to review vide directive dated October 18, 2019”, reads a release from the RBI.
Shivajirao Bhosale Sahakari Bank Ltd., Pune was put, under Directions from the close of business on May 04, 2019.
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 and 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.