Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra. The directive, originally issued on May 18, 2018 and previously extended up to February 17, 2024, is now extended from close of business on February 17, 2024 to close of business on May 17, 2024, subject to review. All other terms and conditions remain unchanged.