Case Brief
What Happened
The Reserve Bank of India has further extended the existing Directions issued to Adarsh Mahila Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, originally issued on February 23, 2023 and last extended on August 07, 2023, is now extended from the close of business on November 24, 2023 to the close of business on February 24, 2024, subject to review. RBI states that the extension is in the public interest and that all other terms and conditions of the Directions remain unchanged.