Case Brief
What Happened
The Reserve Bank of India has extended the existing directions applicable to Shankarrao Pujari Nutan Nagari Sahakari Bank Ltd., Ichalkaranji, Kolhapur. The bank had originally been placed under directions from May 13, 2022, and the validity had already been extended earlier; this latest directive continues those directions till August 12, 2023, subject to review. The RBI also states that all other terms and conditions remain unchanged and that the extension should not be construed as satisfaction with the bank’s financial position.