Case Brief
What Happened
The Reserve Bank of India has further extended the operative period of its existing directive issued to Saibaba Janata Sahakari Bank Limited, Latur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, first issued on July 21, 2022 and last extended to January 22, 2024, is now continued for another three months, from January 22, 2024 to April 22, 2024. The release specifies that all other terms and conditions of the directive remain unchanged and that the extension is subject to review.