Case Brief
What Happened
The Reserve Bank of India has extended, rather than withdrawn, its existing Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka. The directive, originally issued on January 02, 2020 and last extended to February 10, 2024, has now been continued from the close of business on February 10, 2024 to the close of business on May 10, 2024, subject to review. All other terms and conditions of the directive remain unchanged.