Case Brief
What Happened
The Reserve Bank of India extended the existing Section 35A read with Section 56 directions issued to Saibaba Janata Sahakari Bank Limited, Latur, Maharashtra. The directive, earlier valid up to the close of business on July 22, 2024, has been extended for a further one month up to the close of business on August 22, 2024, subject to review. All other terms and conditions of the directive remain unchanged, so the bank continues to operate under the same RBI-imposed restrictions.