Case Brief
What Happened
RBI has extended the period of operation of its earlier directive issued to Deccan Urban Co-operative Bank Limited, Vijayapura, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, originally dated February 18, 2021 and previously extended up to May 19, 2022, will now remain in force from May 20, 2022 to August 19, 2022, subject to review. The release states that all other terms and conditions of the directive remain unchanged.