The RBI’s direction on Karad Janata Sahakari Bank Ltd has been extended further for a period of three months., viz. from March 10, 2020 to June 9, 2020.
The UCB was placed under direction on November 7, 2017 from the close of business on November 9, 2017 for a period of six months, which has been extended again and again.
All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated March 04, 2020 notifying the above extension is to be 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 of substantive improvement in the financial position of the bank.