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 The Karwar Urban Co-operative Bank Ltd., Karwar. The original directions, issued on June 12, 2024, were valid up to close of business on December 12, 2024. RBI has now extended the operation of the directive from close of business on December 12, 2024 to close of business on March 12, 2025, subject to review, while keeping all other terms and conditions unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Karwar, Karnataka
- Order Date