Case Brief
What Happened
The Reserve Bank of India has extended the operation of its existing Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 issued to The Shirpur Merchants’ Co-operative Bank Ltd., Shirpur, Maharashtra. The earlier directive, first issued on April 05, 2024 and last extended up to July 08, 2025, has now been extended again from the close of business on July 08, 2025 to the close of business on October 08, 2025, subject to review. The RBI clarifies that the extension should not be taken as satisfaction with the bank’s financial position, and that all other terms and conditions of the directive remain unchanged.