Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra. The prior directive, which had already been extended up to May 17, 2024, is continued for another three months from May 17, 2024 until close of business on August 17, 2024, subject to review. The release states that all other terms and conditions remain unchanged.