Case Brief
What Happened
The Reserve Bank of India has extended the Directions already in force against The City Co-operative Bank Ltd., Mumbai. The bank had originally been placed under Directions from the close of business on April 17, 2018, and the validity had been extended several times, most recently up to October 16, 2022. By the latest directive dated October 13, 2022, RBI has continued those Directions till January 16, 2023, subject to review, with all other terms and conditions remaining unchanged.