Case Brief
What Happened
The Reserve Bank of India extended the operative period of its existing directions against Maratha Sahakari Bank Ltd., Mumbai. The bank had been placed under directions effective from August 31, 2016, and the release states that those directions, previously valid up to November 30, 2021, will now continue till February 28, 2022, subject to review. The extension was issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949, and all other terms and conditions remain unchanged.