Case Brief
What Happened
The Reserve Bank of India extended the existing directions on Sarvodaya Co-operative Bank Ltd., Mumbai, which had originally been placed under directions on April 15, 2024 and were last extended up to April 15, 2025. Under the new directive dated April 04, 2025, the same directions continue to apply from close of business on April 15, 2025 until close of business on July 15, 2025, subject to review. The release emphasizes that all other terms and conditions remain unchanged and that the extension should not be construed as RBI being satisfied with the bank's financial position.