RBI’s Directions on Harihareshwar Sahakari Bank Limited, Wai, Satara shall continue to apply to the bank till August 31, 2023 as per the directive, subject to review, says RBI in a press release.
The RBI had placed the UCB under Directions from the close of business on May 31, 2022. The validity of the directions was extended from time-to-time, the last being up to May 31, 2023.
All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated May 30, 2023 notifying the above extension is displayed at the bank’s premises for the perusal of the 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.