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 Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru. The earlier directive, originally dated January 02, 2020, was continued beyond close of business on February 10, 2026 and is now extended for three months up to close of business on May 10, 2026, subject to review. RBI notes that the extension should not be construed as satisfaction with the bank's financial position, and states that all other terms and conditions of the directive remain unchanged.