Case Brief
The Reserve Bank of India has extended the validity of the All Inclusive Directions previously issued to Millath Co-operative Bank Limited, Davangere, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, originally dated April 26, 2019 and last extended up to November 7, 2021, will continue to apply from November 8, 2021 to February 7, 2022, subject to review. The release says all other terms and conditions remain unchanged, so this is a continuation of the existing operational restrictions rather than a fresh set of directions.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Davangere, Karnataka