Case Brief
What Happened
The Reserve Bank of India extended the validity of the All Inclusive Directions originally issued to Millath Co-operative Bank Limited, Davangere, Karnataka, under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, which had already been extended earlier up to February 07, 2022, were continued for a further period from February 08, 2022 to May 07, 2022, subject to review. RBI also stated that all other terms and conditions of the directions would remain unchanged.