The Supreme Court of India, comprising a bench of Justice Pamidighantam Sri Narasimha and Justice Alok Aradhe, has ruled that the regulatory power of the Reserve Bank of India (RBI) to supersede the Board of Directors of a multi-State co-operative bank under Section 36AAA of the Banking Regulation Act, 1949 is neither restricted by the
RBI’s Power To Supersede Multi-State Co-operative Bank Boards Under Banking Regulation Act Not Limited By Article 243ZL Six-Month Cap: Supreme Court
