Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing directions issued to Shushruti Souharda Sahakara Bank Niyamita, Bengaluru under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, originally issued on April 07, 2022 and previously extended up to April 07, 2023, will now continue for a further three months from April 08, 2023 to July 07, 2023. RBI states that all other terms and conditions of the directive remain unchanged and the extension is subject to review.