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Wednesday, Feb 18, 2004
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 Money & Banking - Regional Rural Banks


Moratorium extended

Our Bureau

Mumbai , Feb 17

THE Reserve Bank of India has extended the period of moratorium on South Gujarat Local Area Bank Ltd by three months, up to May 12.

During the period of moratorium, the bank is permitted to make only payments as have been specified in this regard in order of the moratorium, said a press release.

The financial position of the bank has been a matter of regulatory and supervisory concern for RBI.

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