The Reserve Bank of India (RBI) has extended the validity of regulatory directions imposed on three cooperative banks, Ramgarhia Co-operative Bank Ltd., New Delhi, Innovative Co-operative Urban Bank Ltd., New Delhi, and The Baghat Urban Co-operative Bank Ltd., Solan, for a further period of three months, citing public interest.
The extension has been issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949. For Ramgarhia Co-operative Bank and The Baghat Urban Co-operative Bank, the directions will now remain in force from the close of business on July 8, 2026, until October 8, 2026, subject to review.
In the case of Innovative Co-operative Urban Bank, the restrictions have been extended from the close of business on July 4, 2026, to October 4, 2026.
RBI clarified that the extension of these directions should not be construed as an indication that the central bank is satisfied with the financial position of the concerned banks. It also stated that all other terms and conditions of the existing directives will remain unchanged during the extended period.
The restrictions will continue to remain under review by the RBI.
