Case Brief
What Happened
The Reserve Bank of India has extended the period of its existing directions applicable to Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi. These directions, originally imposed on June 13, 2023 under Section 35A read with Section 56 of the Banking Regulation Act, 1949, had already been extended from time to time and were last valid up to the close of business on March 14, 2025. The current order continues the same directions from March 14, 2025 until the close of business on June 14, 2025, subject to review, with no change to the other terms and conditions.