Case Brief
What Happened
The Reserve Bank of India extended the existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Durga Co-operative Urban Bank Ltd., Vijayawada. The directive, originally issued on July 28, 2022 and last extended up to July 29, 2024, has been further extended for three months from close of business on July 29, 2024 to close of business on October 29, 2024, subject to review. The release states that all other terms and conditions of the directive remain unchanged.