Case Brief
The Reserve Bank of India extended the existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak (Karnataka). The extension runs for three additional months, from close of business on March 27, 2026 to close of business on June 27, 2026, subject to review. The release also states that the other terms and conditions of the Directive remain unchanged and that the extension should not be construed as satisfaction with the bank’s financial position.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Gokak, Karnataka
- Order Date