The Reserve Bank of India extended directions on Shankarrao Pujari Nutan Nagari Sahakari Bank Ltd., Ichalkaranji, Kolhapur for three months till November 12, 2023.
“All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated August 09, 2023 notifying the above extension is displayed at the bank’s premises for the perusal of public”, reads a RBI press release.
It further reads, “The Reserve Bank of India had placed 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 August 12, 2023”.
“The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that thhe Reserve Bank of India is satisfied with the financial position of the bank”, according to the RBI press release.