Case Brief
What Happened
The Reserve Bank of India has further extended the period of operation of its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to National Mercantile Co-operative Bank Ltd., Lucknow. These directions, originally issued on March 09, 2023 and previously extended up to December 10, 2024, now continue unchanged for another three months, from close of business on December 10, 2024 to close of business on March 10, 2025, subject to review.