Case Brief
What Happened
The Reserve Bank of India notified an extension of the existing directions applicable to Shatabdi Mahila Sahakari Bank Ltd., Thane. The original directive was issued on August 14, 2014 and was earlier extended multiple times; this release extends the directive further from the close of business on May 17, 2016 to November 17, 2016, subject to review under a modified directive dated May 10, 2016. RBI states that all other terms and conditions remain unchanged and that the modification should not be construed as satisfaction with any substantive improvement in the bank's financial position.