Case Brief
What Happened
The Reserve Bank of India has extended the validity of its Section 35A read with Section 56 directions issued to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka. The directive, originally issued on January 02, 2020 and last modified on May 09, 2022, had been valid up to November 10, 2022; it will now continue to apply from November 11, 2022 to February 10, 2023, subject to review. The release states that all other terms and conditions of the directives remain unchanged.