The Karad Janata Sahakari Bank Ltd., Karad, Maharashtra, was placed under directions vide directive dated November 07, 2017 from the close of business on November 09, 2017 for a period of 06 (six) months.
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 35A read with Section 56 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies), hereby directs that the Directive dated November 07, 2017, issued to the above bank, shall continue to apply to the bank for a further period of 06 (six) months from May 10, 2018 to November 09, 2018 Directive dated May 03, 2018 subject to review.
A copy of the directive dated May 03, 2018 notifying the above extension is displayed at the bank’s premises for the perusal of public.
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.
Anirudha D. Jadhav
Press Release : 2017-2018/2949