Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of the existing directions issued to Thodupuzha Urban Co-operative Bank Ltd., Kerala under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS). The directions, originally issued on August 23, 2022 and last extended up to November 23, 2024, will now continue from close of business on November 23, 2024 to close of business on February 23, 2025, subject to review. RBI states that the other terms and conditions of the directive remain unchanged.