The Reserve Bank of India extended the period of directions on Karnataka based Sri Guru Raghavendra Sahakara Bank for a further period of three months.
Issuing the press release in this regard, RBI said , “the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from the close of business on May 10, 2024 to the close of business on August 10, 2024, subject to review.
“All other terms and conditions of the Directives under reference shall remain unchanged”, it further added.