Case brief
RBI has extended its existing directions on Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru for another three months. The other terms of the directive remain unchanged.
Impact
The bank remains under the same RBI-imposed operating conditions for the extended period until close of business on November 10, 2026, unless modified earlier on review. This continues to constrain the bank's operations and signals ongoing supervisory concern; depositors and other stakeholders remain subject to the restrictions already in place.
Why RBI acted
Regulatory basis
- Section 35A read with Section 56 of the Banking Regulation Act, 1949
- sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949