Case Brief
What Happened
The Reserve Bank of India has further extended the ongoing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal. The earlier Directions, first issued on July 21, 2022 and last extended up to close of business on April 22, 2026, are now continued for an additional three months, until close of business on July 22, 2026, subject to review. RBI states that the extension should not be construed as satisfaction with the bank’s financial position, and all other terms and conditions of the original Directive remain unchanged.