Case Brief
What Happened
The Reserve Bank of India has extended the existing directive issued to Saibaba Janata Sahakari Bank Limited, Latur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The original directions were issued on July 21, 2022 and were last extended up to August 22, 2024. RBI has now further extended the same directive by three months, up to the close of business on November 22, 2024, stating that the extension is in the public interest and that all other terms and conditions remain unchanged.