Case Brief
What Happened
The Reserve Bank of India reviewed the financial position of Shree Ganesh Sahakari Bank Ltd., Nashik, Maharashtra, which had been under Section 35A directions since April 2, 2013. RBI modified the existing directive to allow withdrawals up to ₹80,000 per depositor from savings, current, term deposit, or other deposit accounts, subject to adjustment against any borrowal liabilities, and simultaneously extended the directive's validity for a further six months from March 30, 2018 to September 29, 2018. All other terms and conditions of the earlier directive remained unchanged.