Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of the existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra. The directions, originally issued on May 18, 2018 and last extended up to August 17, 2023, were continued from August 18, 2023 to November 17, 2023, subject to review. The release does not indicate any change to the substantive terms and conditions of the directions, which therefore continue in force.