Case Brief
What Happened
The Reserve Bank of India extended the operation of its earlier directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) to The Adoor Co-operative Urban Bank Ltd., Adoor, Kerala. These directions had originally been issued on November 02, 2018 and had already been extended from time to time, most recently up to December 09, 2021. RBI has now directed that the same directive will continue to apply for a further three months, from December 10, 2021 to March 09, 2022, with all other terms and conditions remaining unchanged and subject to review.