RBI had issued Directions to Sri Sharada Mahila Co-operative Bank Limited, Tumkur, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949 dated July 07, 2022.
In a press release RBI says that it is necessary to extend the period of operation of the Directive for a further period of three months from July 09, 2023 to October 08, 2023 subject to review.
Other terms and conditions of the Directive under reference as modified from time to time, shall remain unchanged, the release added