India, March 6 -- A reference is invited to our Press Release dated July 05, 2024, informing that the banking licence of Shimsha Sahakara Bank Niyamitha, Maddur (the bank), Mandya District, Karnataka has been cancelled by the Reserve Bank of India (RBI) vide Speaking Order dated July 05, 2024, and the bank has ceased to carry on banking business, with effect from the close of business on July 05, 2024.2. A reference is also invited to our Press Release dated August 08, 2024, extending the Directive No. BLR.DOS.SSMS.No.S2174/12-08-295/2022-23 dated February 23, 2023, imposed on the bank by RBI, in view of the interim order dated July 25, 2024, passed by the Hon'ble High Court of Karnataka in Writ Petition No. 19767 of 2024. The said Directiv...