Case Brief
What Happened
The Reserve Bank of India has withdrawn the Directions previously issued to Thodupuzha Urban Co-operative Bank Ltd., Kerala under Section 35A read with Section 56 of the Banking Regulation Act, 1949. Those Directions were first issued on August 23, 2022 and had been extended from time to time, with the last validity up to February 23, 2025. After reviewing the bank’s financial position, the RBI said the withdrawal is being made in public interest, effective from close of business on January 20, 2025.