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 issued to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka. The directive, originally issued in January 2020 and previously extended up to the close of business on May 10, 2025, is now extended for another three months, up to the close of business on August 10, 2025, subject to review. The release does not state any new breach; it simply continues the existing operational restrictions unchanged.