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RBI extends validity period of Shivaji Sahakari Bank

The modification by the RBI should not per-se be construed to imply that the central bank is satisfied of substantive improvement in the financial position of the bank

May 20, 2013 10:32 IST | India Infoline News Service
The Reserve Bank of India (RBI) extended the validity period of directions imposed on Shri Shivaji Sahakari Bank in Gadhinglaj, Kolhapur further six months till October 24, 2013.

The other terms and conditions remain unchanged. A copy of the direction dated April 16, 2013 notifying the above modification is displayed at the bank’s premises for the perusal of public, the RBI said in a press release on Friday.

The modification by the RBI should not per-se be construed to imply that the central bank is satisfied of substantive improvement in the financial position of the bank, the release added.

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