Case Brief
What Happened
The Reserve Bank of India extended the validity of its existing All-Inclusive Directions issued to Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan under Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies). The bank had originally been placed under these directions from close of business on November 09, 2018, and the validity had previously been extended up to March 09, 2021. The March 09, 2021 directive continues the same restrictions for another three months, from March 10, 2021 to June 09, 2021, with all other terms and conditions unchanged and subject to review.