Case Brief
What Happened
The Reserve Bank of India extended the existing Directions applicable to Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi. The bank had originally been placed under Directions from close of business on June 14, 2023, and the validity had been extended from time to time, last up to September 14, 2024. RBI has now directed that the same Directions shall continue from close of business on September 14, 2024 till close of business on December 14, 2024, subject to review, with all other terms and conditions unchanged.