Case Brief
What Happened
The Reserve Bank of India extended the period of its existing directions issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS) against The Adoor Co-operative Urban Bank Ltd, Adoor, Kerala. The original directions dated November 02, 2018 had already been extended from time to time, last up to June 09, 2022. Through the directive dated May 31, 2022, RBI ordered that the same directions would continue to apply from June 10, 2022 to September 09, 2022, subject to review. The release specifies that the other terms and conditions remain unchanged.