Case Brief
The Reserve Bank of India has further extended the period of operation of its existing directive issued to Ajantha Urban Co-operative Bank Maryadit, Aurangabad, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The earlier directive, dated August 28, 2023, had been valid until February 29, 2024; RBI has now extended it for three more months up to the close of business on May 29, 2024. The release says all other terms and conditions remain unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Aurangabad, Maharashtra
- Order Date