Case Brief
What Happened
The Reserve Bank of India has extended the period of the existing Directions applicable to Sarvodaya Co-operative Bank Ltd., Mumbai under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The bank had first been placed under Directions on April 15, 2024, and the order had been modified and extended from time to time, most recently up to January 15, 2026. The new directive, dated January 09, 2026, continues those same Directions from close of business on January 15, 2026 until close of business on April 15, 2026, subject to review, with all other terms and conditions unchanged.