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 against The Karwar Urban Co-operative Bank Ltd., Karwar. The directive, previously extended up to June 12, 2025, now continues for three more months from close of business on June 12, 2025 to close of business on September 12, 2025, subject to review. The RBI also clarified that the extension and/or modification should not be construed as satisfaction with the bank's financial position, and all other terms and conditions of the original directive remain unchanged.