Case Brief
What Happened
The Reserve Bank of India has further extended the operation of the existing directions issued to Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, originally issued on February 23, 2023 and last extended up to close of business on November 24, 2024, will now remain in force until close of business on May 24, 2025, subject to review. RBI states that all other terms and conditions of the directive remain unchanged.