REGULATING CO-OPERATIVE BANKING

This role is, perhaps, the most unheralded aspect of our activities, yet it remains among the most critical. This includes ensuring credit availability to the productive sectors of the economy, establishing institutions designed to build the country's financial infrastructure, expanding access to affordable financial services and promoting financial education and literacy.


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Date : May 20, 2019
Directions issued to the Shivam Sahakari Bank Ltd., Ichalkaranji, Dist. - Kolhapur, Maharashtra – Extension of Period

The Reserve Bank of India (vide directive dated May 18, 2018) had placed the Shivam Sahakari Bank Ltd., Ichalkaranji, Dist : Kolhapur, Maharashtra, under Directions from the close of business on May 19, 2018.

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 35 A of the Banking Regulation Act, 1949 read with Section 56 of the said Act, hereby directs that the aforesaid Directive shall continue to apply to the bank for a further period of three months till August 19, 2019 vide directive dated May 13, 2019.

A copy of the aforesaid directive notifying the extended period 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 with the financial position of the bank.

N. Shanmugaram
Assistant General Manager

Press Release : 2018-2019/2718


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