Case Brief
What Happened
The Reserve Bank of India has further extended the existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal. The earlier directive, originally issued on July 21, 2022 and last extended up to October 22, 2024, has now been extended for another three months from the close of business on October 22, 2024 to the close of business on January 22, 2025. The RBI says the extension is in the public interest and that all other terms and conditions of the directive remain unchanged.