Case brief
RBI has extended its existing Section 35A/Section 56 directions on The Amanath Co-operative Bank Ltd., Bangalore by three months. The terms remain unchanged.
Impact
The bank must continue operating under the same RBI-imposed conditions until close of business on December 12, 2026, unless the directive is modified or withdrawn earlier. Depositors and other stakeholders remain subject to the restrictions already in place, with no change in the scope of the existing order.
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