Case Brief
What Happened
The Reserve Bank of India said that the existing directions issued to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949 will continue to apply. The earlier directive, initially issued on January 2, 2020 and last modified on July 7, 2020, was extended for a further six-month period from January 11, 2021 to July 10, 2021, subject to review. Other terms and conditions remain unchanged.