Case Brief
What Happened
RBI has extended the period of directions already in force for Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi. The bank had been placed under directions from the close of business on June 14, 2023, and the validity had earlier been extended up to March 14, 2024. By the March 13, 2024 directive under Section 35A read with Section 56 of the Banking Regulation Act, 1949, the same directions were continued from March 14, 2024 through June 14, 2024, subject to review, with no change to the existing terms and conditions.