Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing directions issued to Saibaba Janata Sahakari Bank Limited, Latur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, initially issued on July 21, 2022 and previously extended up to July 22, 2023, now continues from July 23, 2023 to October 22, 2023, subject to review. RBI states that all other terms and conditions of the directive remain unchanged.