Case Brief
What Happened
The Reserve Bank of India extended its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 for Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra. The directive had already been extended previously and is now continued for a further three months, from close of business on August 17, 2024 to close of business on November 17, 2024, subject to review. The release states that all other terms and conditions remain unchanged.