Case Brief
What Happened
The Reserve Bank of India has further extended the period of operation of its existing directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Ramgarhia Co-operative Bank Limited, New Delhi. The directive, first issued on July 07, 2022 and last extended on January 06, 2025, is now extended from close of business on April 08, 2025 to close of business on July 08, 2025, subject to review. RBI states that the extension should not be construed as satisfaction with the bank’s financial position, and that all other terms and conditions remain unchanged.