Case Brief
What Happened
The Reserve Bank of India extended the validity of its earlier directive issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sri Sharada Mahila Co-operative Bank Limited, Tumkur, Karnataka. The existing directions, first issued on July 07, 2022, will remain in force for a further three-month period from January 09, 2023 to April 08, 2023, subject to review. The release states that all other terms and conditions of the directive, as modified from time to time, remain unchanged.