Case Brief
The Reserve Bank of India extended the existing Section 35A read with Section 56 directions imposed on Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi. The prior directions had started on June 14, 2023 and were now continued from close of business on December 14, 2023 until close of business on March 14, 2024. The release says all other terms and conditions remain unchanged and notes that the extension should not be taken to mean RBI is satisfied with the bank's financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Sawantwadi, Maharashtra
- Order Date