Case Brief
What Happened
The Reserve Bank of India extended the operation of its prior directive issued to Sri Mallikarjuna Pattana Sahakari Bank Niyamitha, Maski, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The original directions dated July 15, 2022, as modified from time to time and last modified on January 18, 2023, were directed to continue for a further period of three months from April 19, 2023 to July 18, 2023, subject to review. The release says the other terms and conditions remain unchanged.