The Reserve Bank of India vide directive DOS.CO.UCBs-West/D-1/12.07.157/2020-21 dated February 03, 2021 had placed Sarjeraodada Naik Shirala Sahakari Bank Ltd, Shirala, Dist. Sangli, Maharashtra under Directions from the close of business on February 03, 2021 for a period of six months. The validity of the above directions was subsequently extended till November 03, 2021.
It is hereby notified for the information of the public that 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 aforesaid Directions shall continue to apply to the bank till January 03, 2022 as per the directive DOR.MON/D-45/12.07.157/2021-22 dated November 03, 2021, subject to review.
All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated November 03, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of public.
The aforesaid extension and /or modification by 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.
Chief General Manager
Press Release: 2021-2022/1149