Case Brief
What Happened
The Reserve Bank of India has further extended the period of operation of its existing Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 issued to Sonpeth Nagari Sahakari Bank Maryadit, Sonpeth, Dist. Parbhani, Maharashtra. The directive, earlier valid up to July 30, 2026, will now continue until close of business on October 30, 2026, subject to review. RBI also clarifies that the extension should not be construed as satisfaction with the bank's financial position and that all other terms and conditions of the Directive remain unchanged.