The Reserve Bank of India had issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Samarth Sahakari Bank Ltd., Solapur, Dist. Solapur, Maharashtra, vide Directive No. NGP.DOS.SSM 2.No.S580/15-03-614/2025-2026 dated October 06, 2025, for a period of six months up to the close of business on April 07, 2026. 2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond the close of business on April 07, 2026. 3. Accordingly, 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, hereby extends the Directive for a further period of three months from the close of business on April 07, 2026, to the close of business on July 07, 2026, subject to review. 4. All other terms and conditions of the Directive under reference shall remain unchanged. The aforesaid extension by the 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. (Brij Raj)
Chief General Manager Press Release: 2026-2027/12 | |