March 26, 2015 <\/strong><\/p>\nThe Reserve Bank of India has extended the
\nvalidity of Directions issued to Shree Ganesh Sahakari Bank Ltd., Nashik,
\nMaharashtra for a further period of six months from March 30, 2015 to September 29, 2015 subject to review. The
\nbank was under
\ndirections since April 01, 2013 which were extended thrice for a period of six months each from the close of business on
\nOctober 01, 2013, April 01, 2014 and September 30, 2014.<\/p>\n
The Reserve Bank has issued these directions
\nin exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act,
\n1949 (As Applicable to
\nCo-operative Societies) read with Section 56 of the Banking Regulation Act, 1949.<\/p>\n
The issue of the Directions by the Reserve
\nBank should per se not be construed to
\nimply that the Reserve Bank is satisfied about substantive improvement in the
\nfinancial position of bank.<\/p>\n
Ajit Prasad<\/strong><\/p>\nPress Release: 2014-2015\/2030 <\/strong>Assistant General Manager<\/p>\n","protected":false},"excerpt":{"rendered":"Ajit Prasad Press Release: 2014-2015\/2030 Assistant General Manager<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[10],"tags":[344],"class_list":["post-629","post","type-post","status-publish","format-standard","hentry","category-banking","tag-directions"],"yoast_head":"\n
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