Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing directions issued to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, originally issued on May 18, 2018 and last extended on February 16, 2023, will now continue from May 18, 2023 to August 17, 2023. No other terms were changed, and the directive remains subject to review.