Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing directions issued to Shushruti Souharda Sahakara Bank Niyamita, Bengaluru under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, originally dated April 07, 2022 and earlier extended up to January 07, 2023, will now continue to apply from January 08, 2023 to April 07, 2023, subject to review. RBI states that all other terms and conditions of the directive remain unchanged.