Case Brief
What Happened
The Reserve Bank of India has extended the existing Directions on The Rajapur Sahakari Bank Ltd., Mumbai under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, originally placed on the bank in June 2023 and previously extended up to September 14, 2024, now continue from close of business on September 14, 2024 until close of business on October 14, 2024, subject to review. RBI also clarifies that all other terms and conditions of the directives remain unchanged.