Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing directions issued to Sri Sharada Mahila Co-operative Bank Limited, Tumkur, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, first issued vide directive dated July 07, 2022, will continue to apply from July 09, 2023 to October 08, 2023, subject to review. The release states that all other terms and conditions of the directive, as modified from time to time, remain unchanged.