Case Brief
What Happened
The Reserve Bank of India said it was necessary in the public interest to extend the period of operation of the existing Directive issued to The Mudhol Co-operative Bank Limited, District Bagalkot, Karnataka, under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, first issued on April 02, 2019 and earlier extended up to January 07, 2022, were made applicable again from January 08, 2022 to April 07, 2022. The release specifically notes that the other terms and conditions of the directions remain unchanged.