Directions issued to the Shivam Sahakari Bank Ltd., Ichalkaranji, Dist. - Kolhapur, Maharashtra – Extension of Period
Case Brief
The Reserve Bank of India extended the existing Directions imposed on Shivam Sahakari Bank Ltd., Ichalkaranji, Dist. Kolhapur, Maharashtra. The original directive dated May 18, 2018 placed the bank under Directions from the close of business on May 19, 2018, and the August 05, 2019 directive continued the same restrictions till October 19, 2019, subject to review, under Section 35A of the Banking Regulation Act, 1949 read with Section 56.
RBI had placed Shivam Sahakari Bank Ltd., Ichalkaranji, Dist. Kolhapur, Maharashtra, under Directions from the close of business on May 19, 2018. By directive dated August 05, 2019, RBI directed that the aforesaid directive shall continue to apply to the bank till October 19, 2019, subject to review, under Section 35A of the Banking Regulation Act, 1949 read with Section 56.
Severity Assessment
This is an extension of RBI Section 35A Directions on a cooperative bank, which is treated as a broad business restriction with severity 4.
The bank continues to operate under RBI-imposed restrictions until October 19, 2019, unless modified earlier on review. Depositors and customers remain subject to the operational limits contained in the underlying Directions.
Published as Shivam Sahakari Bank Ltd., Ichalkaranji, Dist. - Kolhapur, Maharashtra
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Shivam Sahakari Bank Ltd., Ichalkaranji, Dist: Kolhapur, Maharashtra
Business restriction · Extension
Shivam Sahakari Bank Ltd., Ichalkaranji, Dist. - Kolhapur, Maharashtra
Business restriction · Extension
Shivam Sahakari Bank Ltd., Ichalkaranji, Dist. - Kolhapur, Maharashtra
Business restriction · Extension
Shivam Sahakari Bank Ltd., Ichalkaranji, Dist. – Kolhapur, Maharashtra
Business restriction · Extension
Shivam Sahakari Bank Ltd., Ichalkaranji, Dist. - Kolhapur, Maharashtra
Business restriction · Extension
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