Case Brief
What Happened
The Reserve Bank of India extended the existing directions on Shri Anand Co-operative Bank Limited, Chinchwad, Pune, Maharashtra. The bank had originally been placed under directions from the close of business on June 25, 2019, and the validity had already been extended from time to time, with the last extension up to February 24, 2022. The present directive, issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949, continues those directions till May 24, 2022. All other terms and conditions remain unchanged.