The Reserve Bank of India (RBI) has extended the period of its special directives issued to Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District, under Section 35A read with Section 56 of the Banking Regulation Act, 1949.
The original directions, issued on February 23, 2023, were effective for six months and subsequently extended up to November 24, 2025. Considering the public interest, the RBI has now further extended the directives for an additional six months, up to close of business on May 24, 2026.
The RBI clarified that this extension should not be interpreted as an endorsement of the bank’s financial position. All other terms and conditions of the original directive will continue to remain in force, and the extension will be subject to periodic review.
