Case Brief
What Happened
The Reserve Bank of India has extended the existing directions applicable to Defence Accounts Cooperative Bank Ltd., Pune. The bank had originally been placed under directions from the close of business on March 10, 2023. Under the fresh notification dated September 04, 2024, issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949, RBI continued those directions from the close of business on September 10, 2024 until the close of business on December 10, 2024, subject to review. No other terms or conditions were changed.