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 against Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka. The directive, originally issued on January 02, 2020 and last extended up to the close of business on November 10, 2024, is now extended for a further three months until the close of business on February 10, 2025. The RBI states that all other terms and conditions of the directive remain unchanged.