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Date: 21/09/2017
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra

Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra, was placed under directions for a period of six months from the close of business on September 9, 2015 vide directive dated September 8, 2015. The validity of the directions was extended vide modified directives dated March 03, 2016, August 25, 2016 and March 07, 2017 for a period of six months every time. It is hereby notified for the information of the public that the period of operation of the directive dated September 8, 2015 read with the directive dated March 03, 2016, August 25, 2016 and March 07, 2017 has been extended for a further period of six months from September 10, 2017 to March 09, 2018 dated vide order dated September 01, 2017 subject to review.

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

A copy of the directive dated September 01, 2017 notifying the above extension is displayed at the bank’s premises for the perusal of public.

The aforesaid extension 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 : 2017-2018/798

 
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