Case Brief
The Reserve Bank of India has extended the existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District. The earlier directive, first issued on February 23, 2023 and last extended on February 15, 2024, was due to operate up to close of business on May 24, 2024. RBI has now extended the same directive for a further three months, up to close of business on August 24, 2024, subject to review. All other terms and conditions remain unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Maddur, Mandya District
- Order Date