Case Brief
What Happened
The Reserve Bank of India has further extended the Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 in respect of The Bhavani Sahakari Bank Ltd., Mumbai. The extension runs from close of business on April 04, 2026 to close of business on July 04, 2026, and the RBI notes that the other terms and conditions of the directive remain unchanged. The release also clarifies that the extension or modification should not be taken to mean the RBI is satisfied with the bank's financial position.