Case Brief
What Happened
The Reserve Bank of India has extended the Directions applicable to Raigad Sahakari Bank Limited, Mumbai, Maharashtra. The bank had originally been placed under Directions from July 18, 2022, and the latest extension continues the same order from the close of business on October 18, 2023 to the close of business on January 18, 2024. RBI states that all other terms and conditions of the Directions remain unchanged and notes that the extension should not be construed as satisfaction with the bank’s financial position.