Case Brief
What Happened
The Reserve Bank of India has 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 directions, originally issued on November 02, 2018 and last extended up to February 09, 2023, will continue to apply from February 10, 2023 to March 09, 2023, subject to review. RBI also stated that all other terms and conditions of the directive remain unchanged.