| RBI extends Directions issued to Shatabdi Mahila Sahakari Bank Ltd., Thane, District-Thane, Maharashtra till May 17, 2016|
The Reserve Bank of India notified that Shatabdi Mahila Sahakari Bank Ltd., Thane was placed under directions for a period of six months vide directive dated August 14, 2014 from the close of business on August 20, 2014. The validity of the aforesaid directive was further extended for a period of six months and three months vide directive dated February 04, 2015 and dated July 21, 2015 respectively. It is hereby notified for the information of the public that the period of operation of the directive dated August 14, 2014 read with directive dated February 04, 2015 and July 21, 2015 has been extended for a further period of six months from the close of business on November 17, 2015 to May 17, 2016 subject to review vide our modified directive dated November 04, 2015. The other terms and conditions remain unchanged. A copy of the directive dated November 04, 2015 notifying the above modification 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.
Assistant General Manager
Press Release : 2015-2016/1171