Case Brief
What Happened
RBI issued an extension of the existing directions applicable to The City Co-operative Bank Ltd., Mumbai. The original directive dated April 17, 2018 had placed the bank under Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949, and the validity had been extended periodically, last up to April 16, 2024. The current release continues those directions from the close of business on April 16, 2024 to the close of business on July 16, 2024, with all other terms and conditions unchanged and subject to review.