Case Brief
What Happened
The Reserve Bank of India has further extended the operation of its existing Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka. The earlier directive, last extended up to February 10, 2025, is now extended for another three months from the close of business on February 10, 2025 to the close of business on May 10, 2025, subject to review. The release says all other terms and conditions remain unchanged.