Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Durga Co-operative Urban Bank Ltd., Vijayawada. The Directive, originally issued in July 2022 and last extended up to October 29, 2024, will now continue from close of business on October 29, 2024 until close of business on January 29, 2025, subject to review. No changes were made to the other terms and conditions of the Directive, so the bank remains under the same operating restrictions during this period.