Case Brief
What Happened
The Reserve Bank of India has further extended the period of operation of its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Jaiprakash Narayan Nagari Sahakari Bank Ltd., Basmatnagar. The directive, originally issued on July 28, 2022 and last extended to January 29, 2024, now continues from close of business on January 29, 2024 to close of business on April 29, 2024, subject to review. RBI states that the other terms and conditions of the directive remain unchanged.