Case Brief
The Reserve Bank of India has extended the validity of its earlier Section 35A All-Inclusive Directions issued to Sumerpur Mercantile Urban Co-operative Bank Limited, Sumerpur, Rajasthan. The directive, originally placed in force from December 06, 2022 and last extended up to December 06, 2023, will now continue unchanged for a further three months from close of business on December 06, 2023 to close of business on March 06, 2024, subject to review. RBI clarified that all other terms and conditions remain unchanged and that the extension should not be taken to mean the bank’s financial position is satisfactory.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Sumerpur, Rajasthan