Case Brief
What Happened
The Reserve Bank of India extended the period of its earlier directions on The Seva Vikas Cooperative Bank Ltd., Pune, Maharashtra. The bank had been placed under directions from the close of business on October 12, 2021 for six months, and the current release states that those directions shall continue to apply until July 12, 2022, subject to review. RBI notes that all other terms and conditions remain unchanged and that the extension should not be construed as satisfaction with the bank's financial position.