Case Brief
What Happened
The Reserve Bank of India withdrew the All Inclusive Directions that had been imposed on Youth Development Co-operative Bank Limited, Kolhapur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The bank had originally been placed under directions from the close of business on January 05, 2019, and those directions were extended from time to time, with the last extension valid up to April 05, 2021. RBI stated that the withdrawal was made in the public interest.