Case Brief
What Happened
The Reserve Bank of India issued an extension of the existing directions on The Kapol Cooperative Bank Ltd, Mumbai, Maharashtra, which had originally been placed under directions from the close of business on March 30, 2017. The release notes that the directions had been extended periodically, most recently up to July 31, 2023, and now continue until October 31, 2023 under Section 35A read with Section 56 of the Banking Regulation Act, 1949, subject to review. The order expressly states that all other terms and conditions remain unchanged.