Case Brief
What Happened
The Reserve Bank of India announced an extension of the directions previously issued to Bhilwara Mahila Urban Co-operative Bank Ltd., Bhilwara (Rajasthan), under section 35A read with section 56 of the Banking Regulation Act, 1949. The directive dated March 07, 2017, effective from March 9, 2017, was extended for six more months, from September 10, 2017 to March 09, 2018. RBI also stated that the other terms and conditions of the directions would remain unchanged and the extension would be subject to review.