Case Brief
RBI has further extended the Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against The Konark Urban Co-operative Bank Ltd., Ulhasnagar. The directive, originally issued on 23 April 2024 and last extended to 23 October 2026, has now been continued for a further three months from 23 October 2026 to 23 January 2027, subject to review. The press release notes that the extension does not imply RBI is satisfied with the bank's financial position and that the other terms and conditions of the directive remain unchanged.
Action Snapshot
- Primary Impact
- Extension
- Entity Type
- Co-operative bank
- Location
- Ulhasnagar
- Order Date