Case Brief
What Happened
The Reserve Bank of India extended the Section 35A read with Section 56 directions applicable to Pune Sahakari Bank Ltd., Shivajinagar, Pune, Maharashtra. The original directions had been placed from the close of business on March 10, 2023 for six months, and the new directive extends them for a further three months from close of business on December 10, 2023 to close of business on March 10, 2024, subject to review. The release also states that all other terms and conditions of the earlier directive remain unchanged.