The Reserve Bank of India, in exercise of powers vested in has extended the Direction on Shivam Sahakari Bank based in Ichalkaranji in Kolhapur for a further period of six months till May 19, 2019.
The UCB was put under Direction from the close of business on May 19, 2018.
A copy of the directive dated November 12, 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 with the financial position of the bank.