Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing directions issued to The Adoor Co-operative Urban Bank Ltd., Adoor, Kerala under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, originally issued on November 02, 2018 and last extended up to June 09, 2021, will now remain in force for another three months, from June 10, 2021 to September 09, 2021, subject to review. The release specifies that all other terms and conditions remain unchanged.