Case Brief
What Happened
The Reserve Bank of India has extended the validity of its All Inclusive Directions against Millath Co-operative Bank Limited, Davangere, Karnataka. The original directive was issued on April 26, 2019 under Section 35A read with Section 56 of the Banking Regulation Act, 1949, and had previously been extended up to August 7, 2021. The latest order continues the same directive for a further period of three months, from August 8, 2021 to November 7, 2021, subject to review, with all other terms and conditions unchanged.