Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing directions issued to Saibaba Janata Sahakari Bank Limited, Latur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, previously extended up to the close of business on October 22, 2023, will now continue until the close of business on January 22, 2024, subject to review. RBI has stated that all other terms and conditions of the directive remain unchanged.