The Directions imposed by RBI on The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra will continue to apply to the bank for a further period of four months from December 01, 2018 to March 31, 2019, RBI said in a press release.
The UCB was placed under directions from close of business on August 31, 2016. The validity of the directions was extended from time to time.
A copy of the directive dated November 27, 2018 notifying the above extension 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 of substantive improvement in the financial position of the bank, the release clarifies.