Case Brief
What Happened
The Reserve Bank of India has extended the existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Dwarkadas Mantri Nagari Sahakari Bank Ltd., Beed. The directive, originally issued on March 09, 2022 and last extended up to September 09, 2023, is now extended for a further three months from close of business on September 09, 2023 to close of business on December 09, 2023. RBI states that the extension is in public interest and that all other terms and conditions remain unchanged.