Case Brief
What Happened
The Reserve Bank of India has extended the period of operation 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 original directions, first issued on November 02, 2018 and last extended up to January 09, 2023, will continue to apply from January 10, 2023 to February 09, 2023, subject to review. The release states that the other terms and conditions of the directive remain unchanged.