The Reserve Bank of India notified that the Shatabdi Mahila Sahakari Bank Ltd., Thane was placed under directions for a period of six months vide directive dated August 14, 2014 from the close of business on August 20, 2014.
The validity of the aforesaid directive was further extended vide directive dated February 04, 2015; dated July 21, 2015 and dated November 04, 2015 for a period of six months, three months and six months respectively.
“It is hereby notified for the information of the public that the period of operation of the directive dated August 14, 2014 read with directive dated February 04, 2015, July 21, 2015 and November 04, 2015 has been extended for a further period of six months from the close of business on May 17, 2016 to November 17, 2016 subject to review vide our modified directive dated May 10, 2016”, a RBI press release read.
The other terms and conditions remain unchanged. A copy of the directive dated May 10, 2016 notifying the above modification is displayed at the bank’s premises for the perusal of public, it added.
The aforesaid modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied of substantive improvement in the financial position of the bank, RBI clarified.