Case Brief
What Happened
RBI said that the directions earlier issued to Thodupuzha Urban Co-operative Bank Limited, Kerala under section 35A read with section 56 of the Banking Regulation Act, 1949 would continue to apply for a further three months, from August 24, 2023 to November 23, 2023, subject to review. The bank was already under those directions since August 23, 2022, and the last extension had taken them to August 23, 2023. RBI stated that the public interest required continuation of the directive and that all other terms and conditions would remain unchanged.