The Reserve Bank of India has announced the extension of its directive to The Anjangaon Surji Nagari Sahakari Bank Ltd., based in Amravati, Maharashtra. This extension, issued under Section 35A of the Banking Regulation Act, 1949, extends the period of the directive for an additional three months.
The directive, initially issued on July 27, 2022, for a period of six months, was last extended up to April 28, 2024. With the recent decision, the directive will now be effective until July 28, 2024, subject to review.
The RBI stated that the extension is deemed necessary in the public interest. All terms and conditions of the directive remain unchanged.
The Anjangaon Surji Nagari Sahakari Bank Ltd. has been under regulatory scrutiny, and the RBI continues to monitor its operations closely to ensure the stability of the banking sector.
