Case Brief
What Happened
The Reserve Bank of India extended the existing Directions imposed on The City Co-operative Bank Ltd., Mumbai under Section 35A read with Section 56 of the Banking Regulation Act, 1949. These directions had originally been placed on the bank from the close of business on April 17, 2018 and had been extended several times, with the last validity up to January 16, 2022. The current directive continues the same directions until April 16, 2022, subject to review, and explicitly states that all other terms and conditions remain unchanged.