The Reserve Bank of India had placed the Shivam Sahakari Bank Ltd., Ichalkaranji, Dist : Kolhapur, Maharashtra, under Directions from the close of business on May 19, 2018.
“It is hereby notified for the information of the public that, the Reserve Bank of India hereby directs that the aforesaid Directive shall continue to apply to the bank till January 31, 2020 subject to review”, says a release by RBI.
A copy of the aforesaid directive notifying the extended period 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, it clarifies.