Case Brief
What Happened
The Reserve Bank of India has further extended the period of operation of its existing Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Durga Co-operative Urban Bank Ltd., Vijayawada. The directive, originally issued on July 28, 2022, had previously been extended up to close of business on January 29, 2024, and is now extended again from January 29, 2024 to April 29, 2024, subject to review. No changes were made to the substantive terms and conditions of the directive.