Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its earlier directions issued to The Adoor Co-operative Urban Bank Ltd., Adoor, Kerala under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS). The directions, originally issued on November 2, 2018 and last extended up to March 9, 2022, will continue to apply for a further three months from March 10, 2022 to June 9, 2022. RBI states that the other terms and conditions of the directive remain unchanged.