Case Brief
What Happened
The Reserve Bank of India has extended the earlier directions imposed on Sangli Sahakari Bank Limited, Mumbai, Maharashtra. The bank had been placed under Directions from the close of business on July 08, 2022, and those directions will now continue to apply till October 08, 2023, subject to review. RBI has clarified that all other terms and conditions of the directives remain unchanged. The order is issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949.