Case Brief
What Happened
The Reserve Bank of India has further extended the period of operation of 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 up to May 10, 2024, now continues from the close of business on May 10, 2024 to the close of business on August 10, 2024, subject to review. RBI says all other terms and conditions remain unchanged.