Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 issued to Ajantha Urban Co-operative Bank Maryadit, Aurangabad, Maharashtra. The directive, earlier extended up to November 29, 2024, is now extended for three more months from the close of business on November 29, 2024 to the close of business on February 28, 2025, subject to review. RBI says all other terms and conditions remain unchanged.