Case Brief
What Happened
The Reserve Bank of India extended the applicability of the existing Section 35A directions issued to Rupee Co-operative Bank Ltd., Pune, Maharashtra. The prior directive, originally issued on February 21, 2013 and extended from time to time, had last been extended up to May 31, 2020. RBI stated that the same directions would continue from June 1, 2020 to August 31, 2020, subject to review, and that all other terms and conditions remain unchanged. The release also says this extension should not be taken to mean RBI is satisfied with any substantive improvement in the bank's financial position.