The Reserve Bank of India has lifted the All Inclusive Directions and AID and Supervisory Action Framework (SAF) over 143 Nagari Sahakari banks in Maharashtra. The restrictions were imposed after the Corona pandemic.
The banks faced serious financial problems as recovery of loans, raising fund through shares and registering new members or share-holders was not possible. The unpaid loans piled up and the banks were unable to extend loans. The Cooperative Department had banned recovery of loans during the Corona pandemic and other related issues.
The banks will be able to restart their activities after the restrictions have been lifted by the RBI.
👉 Click here to read the latest Gujarat news on TheLiveAhmedabad.com
[bsa_pro_ad_space id=9]