RBI press-release 2026-2027/1229 · 01 Oct 2026
Official title
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Innovative Co-operative Urban Bank Limited, New Delhi – Extension of Period
Summary
Check the official recordThe Reserve Bank of India extends the regulatory directions for Innovative Co-operative Urban Bank Limited, New Delhi. The bank operates under these directions pursuant to Section 35A read with Section 56 of the Banking Regulation Act, 1949. The extension lasts for three months. The new period begins at the close of business on October 04, 2026. The period ends at the close of business on January 04, 2027. This extension remains subject to review. The extension does not indicate that the Reserve Bank of India is satisfied with the financial position of the bank. All other terms and conditions of the original directive remain unchanged.
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October 01, 2026
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Innovative Co-operative Urban Bank Limited, New Delhi – Extension of Period
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Innovative Co-operative Urban Bank Limited, New Delhi vide Directive No. DEL.DOS.EXG_SSM.No.S143/12-10-005/2025-2026 dated July 03, 2025 for a period of 06 months from close of business on July 04, 2025 up to close of business on January 04, 2026, which was last extended vide Directive No. DOR.MON.D-19/12.28.123/2026-27 dated June 29, 2026. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on October 04, 2026.
Accordingly, the Reserve Bank of India, in the exercise of 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 03 months from close of business on October 04, 2026 to close of business on January 04, 2027, subject to review.
The aforesaid extension by the Reserve Bank of India should not per-se be construed to imply that the Reserve Bank of India is satisfied with the financial position of the bank.
Other terms and conditions of the Directive under reference, shall remain unchanged.
(Brij Raj)
Press Release: 2026-2027/1229 Chief General Manager
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