Case Brief
What Happened
The Reserve Bank of India extended the applicability of the existing directions on Maratha Sahakari Bank Limited, Mumbai, Maharashtra. These directions were originally issued on August 31, 2016 under Section 35A read with Section 56 of the Banking Regulation Act, 1949 and had been renewed from time to time, with the last extension valid up to August 31, 2022. Under the latest directive dated August 30, 2022, the bank remains subject to the same conditions until November 30, 2022, subject to review, and all other terms of the earlier directions remain unchanged.