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 Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka. The directive, previously last extended up to November 10, 2023, is now extended for a further three months from the close of business on November 10, 2023 to the close of business on February 10, 2024, subject to review. The RBI states that all other terms and conditions remain unchanged.