Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra, was placed under directions for a period of six months vide directive dated September 8, 2015 from the close of business on September 9, 2015. The validity of the directions was extended vide directive dated March 03, 2016 and August 25, 2016 for a period of six months. Besides, the bank, vide Directive dated December 26, 2016, was permitted to set off loans against fixed deposits as well as renew standard Cash Credit accounts subject to certain terms and conditions. It is hereby notified for the information of the public that the period of operation of the directive dated September 8, 2015 read with the directive dated March 03, 2016, August 25, 2016 and December 26, 2016 has been extended for a further period of six months from March 10, 2017 to September 09, 2017 vide our directive dated March 07, 2017.

The other terms and conditions of the directive under reference remain unchanged.

A copy of the directive dated March 07, 2017 notifying the above extension will be displayed at the bank’s premises for the perusal of public.

The aforesaid extension 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
Assistant Manager

Press Release : 2016-2017/2401