Case Brief
What Happened
The Reserve Bank of India has extended the existing Directions imposed on Pune Sahakari Bank Ltd., Shivajinagar, Pune, Maharashtra, under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The earlier directions, first placed in force from March 10, 2023, had already been extended time to time and were valid up to March 10, 2024. This release extends them further from close of business on March 10, 2024 to close of business on June 10, 2024, subject to review, with all other terms and conditions remaining unchanged.