Case Brief
What Happened
The Reserve Bank of India extended the operating directions already in place for Adarsh Mahila Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The earlier directive, issued on February 23, 2023, had been valid up to August 24, 2023; RBI has now extended it for a further three months, from August 25, 2023 to November 24, 2023, subject to review. The press release says all other terms and conditions remain unchanged, so the existing restrictions continue without modification.