Case Brief
What Happened
The Reserve Bank of India has extended the existing directions लागू on Shankarrao Pujari Nutan Nagari Sahakari Bank Ltd., Ichalkaranji, Kolhapur. The bank had originally been placed under directions from the close of business on May 13, 2022 for a six-month period. The November 10, 2022 directive, issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949, continues those directions till February 12, 2023, subject to review, and leaves all other terms and conditions unchanged.