Case Brief
What Happened
The Reserve Bank of India has extended the validity of the existing directions issued to Thodupuzha Urban Co-operative Bank Ltd., No.394, Kerala, under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS). The earlier directive dated August 23, 2022 had been valid for six months up to February 23, 2023. RBI has now directed that the same directive will continue to apply from February 24, 2023 to May 23, 2023, subject to review, with all other terms and conditions unchanged.