The Reserve Bank of India issued Directions to Shankarrao Mohite Patil Sahakari Bank Ltd., Akluj under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive NGP.DOS.SSM 2.No.S1389/15-04-616/2022-23 dated February 23, 2023, for a period of six months up to August 24, 2023.

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 August 24, 2023.

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 August 25, 2023 to November 24, 2023, subject to review.

4. All other terms and conditions of the Directive under reference shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/739