The Reserve Bank of India has put Shankarrao Pujari Nutan Nagari Sahakari Bank Ltd., Ichalkaranji, Kolhapur under Directions from the close of business on May 13, 2022 for a period of six months, i.e., till November 12, 2022. The validity of the directions was extended from time-to-time, the last being up to May 12, 2023.
In a release RBI says “It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it the aforesaid Directions shall continue to apply to the bank till August 12, 2023, subject to review.
All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated May 11, 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, says RBI.
