Case Brief
What Happened
The Reserve Bank of India has further extended the Directions issued to Ajantha Urban Co-operative Bank Maryadit, Aurangabad, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The earlier directive, originally issued on August 28, 2023 and last extended up to February 28, 2025, has now been extended for another three months up to the close of business on May 28, 2025, subject to review. The RBI says all other terms and conditions remain unchanged.