The Reserve Bank of India (RBI) has extended the Directions imposed on the Konark Urban Co-operative Bank Ltd., Ulhasnagar, for a further period of three months, up to the close of business on April 23, 2026.
The Directions were originally issued on April 23, 2024, under Section 35A read with Section 56 of the Banking Regulation Act, 1949, for a period of six months and were last extended till January 23, 2026.
The RBI stated that the latest extension has been made in public interest and will remain subject to review.
The central bank clarified that the extension and/or any modification of the Directions should not be construed as an indication that it is satisfied with the bank’s financial position. All other terms and conditions of the earlier Directions will continue unchanged during the extended period.
