The Reserve Bank of India (RBI) has further extended the Directions imposed on National Urban Co-operative Bank Ltd., Pratapgarh, Uttar Pradesh, under the Banking Regulation Act, 1949.
The Directions were originally issued by the RBI on April 15, 2024, under Section 35A read with Section 56 of the Act, for a period of six months up to October 15, 2024. The validity of these Directions was subsequently extended from time to time, with the latest extension valid up to the close of business on January 15, 2026.
After reviewing the bank’s position, the RBI stated that, in the public interest, it is necessary to continue the Directions beyond January 15, 2026. Accordingly, exercising its powers under the Banking Regulation Act, the central bank has extended the Directions for a further period of three months, from the close of business on January 15, 2026, to the close of business on April 15, 2026, subject to review.
The RBI clarified that all other terms and conditions of the existing Directions will remain unchanged during the extended period.
