Case Brief
What Happened
The Reserve Bank of India extended the existing All Inclusive Directions issued to Colour Merchants Co-operative Bank Ltd., Ahmedabad under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The earlier directive, first issued on September 25, 2023 and last extended on March 18, 2024, was continued from close of business on June 25, 2024 to close of business on September 25, 2024, subject to review. No new terms were added and all other conditions remain unchanged.