Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra was placed under directions for a period of six months, vide directive No.DCBS.CO.BSD-1 No.D-19/12.22.328/2015-16 dated September 28, 2015 from the close of business on September 30, 2015, under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directives was extended vide our directive dated March 29, 2016 for a period of six months. It is hereby notified for the information of the public that the aforesaid directive dated September 28, 2015 issued to Ajinkyatara Sahakari Bank Ltd., Satara, read with the directive dated March 29, 2016 shall continue to apply to the bank for a further period of six months up to March 30, 2017 vide modified directive No.DCBR.CO.AID/D-08/12.22.328/2015-16 dated September 28, 2016, subject to review. The other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive dated September 28, 2016 is displayed at the bank’s premises for the perusal of public.
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.
Press Release : 2016-2017/829