Case Brief
The Reserve Bank of India has extended the period of operation of its existing directive issued to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, initially issued on January 02, 2020 and last modified on May 04, 2023, was earlier valid up to August 10, 2023. It will now continue to apply from August 11, 2023 to November 10, 2023, subject to review, with all other terms and conditions remaining unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Bengaluru, Karnataka
- Order Date