Case Brief
What Happened
The Reserve Bank of India said it was necessary in the public interest to extend the period of operation of its existing directive to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka, issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, originally dated January 02, 2020 and last modified on November 09, 2022, will continue to apply for a further three months from February 11, 2023 to May 10, 2023, subject to review. All other terms and conditions remain unchanged.