Case Brief
What Happened
The Reserve Bank of India extended the existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Maratha Sahakari Bank Limited, Mumbai, Maharashtra. The bank had originally been placed under directions from the close of business on August 31, 2016, and the validity had been extended from time to time, most recently up to May 31, 2022. The present release continues those directions till August 31, 2022, subject to review, and specifies that all other terms and conditions remain unchanged.