Case Brief
What Happened
The Reserve Bank of India has further extended the period of operation of its existing Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against National Mercantile Co-operative Bank Ltd., Lucknow. The directive, first issued on March 09, 2023 and last extended to September 10, 2025, will now continue from close of business on September 10, 2025 until close of business on December 10, 2025, subject to review. The RBI says all other terms and conditions of the directive remain unchanged.