Case Brief
What Happened
The Reserve Bank of India extended the validity of its existing directions issued to The Adoor Co-operative Urban Bank Ltd, Adoor, Kerala under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS). The earlier directions, first issued on November 2, 2018 and last extended up to December 9, 2022, will continue to apply for a further period of one month from December 10, 2022 to January 9, 2023. RBI stated that the other terms and conditions of the directive remain unchanged and the extension is subject to review.