The Reserve Bank of India has extended Direction on Karnala Nagri Sahakari Bank Ltd., Panvel, Raigad, Maharashtra till August 15, 2021, subject to review.
The UCB was placed under direction from the close of business on June 15, 2020 for a period of six months. The validity of the directions was extended up to June 15, 2021.
All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated June 15, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of the public.
The aforesaid extension and /or modification by 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..