Case Brief
What Happened
The Reserve Bank of India extended the existing All Inclusive Directions issued to The Karmala Urban Co-operative Bank Limited, Solapur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The original directive, issued on July 29, 2022, had applied for six months up to January 29, 2023. RBI has now continued the same directive for a further three months from January 30, 2023 to April 29, 2023, with all other terms and conditions unchanged and subject to review.