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 National Co-operative Bank Ltd., Bangalore. The directive, originally issued on July 24, 2023 and last extended up to October 24, 2024, is now extended for three more months from close of business on October 24, 2024 to close of business on January 24, 2025, subject to review. The release states that all other terms and conditions remain unchanged.