Case Brief
What Happened
The Reserve Bank of India has further extended the existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District. The earlier directive, first issued on February 23, 2023 and last extended up to close of business on November 24, 2023, has now been extended again until close of business on February 24, 2024, subject to review. No other terms or conditions were changed.