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The Reserve Bank of India (RBI) has extended the validity of directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 for Saibaba Janata Sahakari Bank Limited, Latur, Maharashtra. The original directions were issued on July 21, 2022, for six months and were last extended until August 22, 2024.
In the public interest, RBI has further extended the period of operation of the directive for three months, from August 22, 2024, to November 22, 2024, subject to review. All other terms and conditions of the directive remain unchanged.
The directives continue to ensure that the bank adheres to regulatory compliance, including cybersecurity measures, secure handling of customer data, and protection of privacy, in line with RBI’s risk management requirements.
[RBI]