The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra, was placed under directions from close of business on August 31, 2016 vide directive No.DCBS.CO.BSD-I.No.D-4/12.22.141/2016-17 dated August 31, 2016. The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive DCBR.CO.AID.No.D-20/12.22.140/2019-20 dated September 25, 2019 and is valid upto December 31, 2019 subject to review.
2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive DCBS.CO.BSD-I/D-4/12.22.141/2016-17 dated August 31, 2016, as modified from time to time, issued to the above bank, the validity of which was last extended upto December 31, 2019 shall continue to apply to the bank for a further period of three months from January 01, 2020 to March 31, 2020 vide Directive DOR.CO.AID./No.D-43/12.22.140/2019-20 dated December 20, 2019 subject to review.
3. Other terms and conditions of the Directive under reference as modified from time-to-time, shall remain unchanged. A copy of the directive dated December 20, 2019 notifying the above extension is displayed at the bank’s premises for the perusal of public.
4. 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.
Chief General Manager
Press Release: 2019-2020/1543