Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Konark Urban Co-operative Bank Ltd., Ulhasnagar – Extension of Period
RBI press-release 2026-2027/690 · 17 Jul 2026
RBI press-release 2026-2027/690 · 17 Jul 2026
Summary
Check the official recordThe Reserve Bank of India has extended the operational period of the existing regulatory directions imposed on The Konark Urban Co-operative Bank Ltd., Ulhasnagar. Originally issued on April 23, 2024, these directions have been subject to multiple extensions. The current directive extends the period of operation for an additional three months, effective from the close of business on July 23, 2026, until the close of business on October 23, 2026, subject to further review. The Reserve Bank of India clarified that this extension should not be construed as satisfaction with the bank's financial position, and all other terms and conditions of the original directive remain unchanged.
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July 17, 2026
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Konark Urban Co-operative Bank Ltd., Ulhasnagar – Extension of Period
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Konark Urban Co-operative Bank Ltd., Ulhasnagar vide Directive No. CO.DOS.SED.No.S592/45-11-001/2024-25 dated April 23, 2024 for a period of six months up to close of business on October 23, 2024, which was last extended up to close of business on July 23, 2026 vide Directive No. DOR.MON/D-07/12.22.805/2026-27 dated April 17, 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 July 23, 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 three months from close of business on July 23, 2026 to close of business on October 23, 2026, subject to review.
The aforesaid extension and /or modification 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: 2026-2027/690 Chief General Manager प्रेस प्रकाशनी PRESS RELEASE
भारतीय रिज़र्व बैंक
RESERVE BANK OF INDIA
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