Case Brief
What Happened
The Reserve Bank of India has further extended the operation of its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan. The earlier directions, last extended up to March 09, 2025, will now remain in force from close of business on March 09, 2025 until close of business on June 09, 2025, subject to review. The RBI states that all other terms and conditions of the directive remain unchanged.