Case Brief
What Happened
RBI notified an extension of the directions issued under section 35A read with section 56 of the Banking Regulation Act, 1949 against Alwar Urban Co-operative Bank Ltd., Alwar (Rajasthan). The bank’s directions, originally effective from March 8, 2017 and earlier extended to March 7, 2018, were continued for a further four months from March 8, 2018 to July 7, 2018, subject to review. The release states that all other terms and conditions of the directives remain unchanged.