Case brief
RBI has extended its existing directions on Ramgarhia Co-operative Bank Limited, New Delhi, for another three months. The underlying terms remain unchanged.
Impact
Ramgarhia Co-operative Bank Limited must continue operating under the existing RBI directions until close of business on October 08, 2026, unless further changed. The bank's activities remain subject to the same unchanged restrictions and any affected customers or counterparties continue to face the consequences of those directions during the extended period.
Why RBI acted
Regulatory basis
- Section 35A of the Banking Regulation Act, 1949
- Section 56 of the Banking Regulation Act, 1949