The Reserve Bank of India has placed Shree Ganesh Sahakari Bank Ltd.,
Nashik, Maharashtra, under Directions. According to the Directions,
depositors will be allowed to withdraw a sum not exceeding Rupees one
thousand of the total balance held in every savings bank or current
account or any other deposit account.
The Urban cooperative Bank will, without prior approval in writing
from the Reserve Bank, also not be able to grant or renew any loans and
advances, make any investment, incur any liability.
It also cannot enter into any compromise or arrangement and sell,
transfer or otherwise dispose of any of its properties or assets except
as notified in the RBI Directions dated April 01, 2013.
The Directions have been issued from the close of business on April 02, 2013.
The Reserve Bank has, however, clarified, that issue of the
Directions by the Reserve Bank should not per se be construed as
cancellation of banking licence. Rather, Shree Ganesh Sahakari Bank Ltd.
will continue to undertake banking business but with restrictions till
its financial position improves.
The Reserve Bank may consider modifications of these Directions depending upon circumstances.
News from : www.indiancooperative.com
No comments:
Post a Comment