Case Brief
What Happened
The Reserve Bank of India has further extended the operation of its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against The National Co-operative Bank Ltd., Bangalore. The directive, which had already been extended previously up to July 24, 2024, has now been extended for another three months, from close of business on July 24, 2024 to close of business on October 24, 2024, subject to review. RBI states that all other terms and conditions of the directive remain unchanged.