Case Brief
What Happened
The Reserve Bank of India has further extended the existing Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 issued to National Urban Co-operative Bank Ltd., Pratapgarh, Uttar Pradesh. The directive, originally issued on April 15, 2024 and last extended up to close of business on April 15, 2025, now continues from close of business on April 15, 2025 to close of business on July 15, 2025, subject to review. The release says that all other terms and conditions remain unchanged, so this is a continuation of the prior operating restrictions rather than a new substantive order.