RBI Extends closure period of Sangli Sahakari Bank Limited

The Reserve Bank of India (RBI) via directive CO.DOS.DSD.No.S2322/12-07-005/2022-23 dated July 07, 2022, had placed Sangli Sahakari Bank Limited, Mumbai, Maharashtra, under Directions for a period of six months beginning on July 08, 2022. The directions’ validity was extended from time to time, the most recent being until January 8, 2024.

It is hereby notified for the information of the public that, the Reserve Bank of India, in the exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directions for a further period of three months from close of business on January 08, 2024, to close of business on April 08, 2024 as per the Directive ‘DOR.MON.D-111/12.22.225/2023-24 dated December 29, 2023, subject to review.

All other terms and conditions of the Directives referred to remain unaltered. A copy of the directive dated December 29, 2023, notifying the foregoing extension is available for public inspection at the bank’s facilities.

The Reserve Bank of India’s aforementioned extension and/ or adjustment should not be interpreted as implying that the Reserve Bank of India is satisfied with the bank’s financial status.