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 in respect of National Mercantile Co-operative Bank Ltd., Lucknow. The original directive was issued on March 09, 2023 and had most recently been extended up to close of business on March 10, 2025. The latest order extends the same directive for another three months, up to close of business on June 10, 2025, subject to review, with all other terms and conditions unchanged.