Case Brief
What Happened
The Reserve Bank of India extended the period of operation of its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Amanath Co-operative Bank Ltd., Bangalore. The earlier Directive, issued on June 12, 2024, is extended from close of business on March 12, 2026 to close of business on June 12, 2026, subject to review. RBI also clarified that the extension or modification should not be construed to mean it is satisfied with the bank's financial position, and that all other terms and conditions of the Directive remain unchanged.