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Date: 30/03/2017
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra

The Ajinkyatara Sahakari Bank Ltd, Satara, Maharashtra, was placed under directions vide directive dated September 28, 2015, from close of business on September 30, 2015. The validity of the directions was extended from time to time vide subsequent directives last being dated September 28, 2016 which was valid upto March 30, 2017 subject to review.

The public is hereby advised that the Directives so issued to Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra on September 28, 2015, has been extended for a period of six months up to September 30, 2017 vide order dated March 20, 2017 subject to review.

The other terms and conditions of the directives under reference remain unchanged.

A copy of the directive dated March 20, 2017 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.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2617

 
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