Case Brief
What Happened
The Reserve Bank of India extended the period of operation of its existing Directions issued to Mapusa Urban Co-Operative Bank of Goa Ltd., Goa, under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, originally issued on July 24, 2015 and last extended up to November 18, 2019, were made applicable for a further three months from November 19, 2019 to February 18, 2020. The release states that all other terms and conditions remain unchanged.