The Reserve Bank of India (RBI) has extended the restrictions imposed on the Konark Urban Co-operative Bank Ltd., Ulhasnagar, Maharashtra, for another three months, till January 23, 2027.
In a notification, the RBI said the extension would take effect from the close of business on October 23, 2026, and remain in force until the close of business on January 23, 2027, subject to review.
The directions were originally issued on April 23, 2024, under Section 35A read with Section 56 of the Banking Regulation Act, 1949, for six months. Their validity has since been extended periodically, with the latest extension granted on July 15, 2026, until October 23, 2026.
The central bank said it considered the extension necessary in the public interest.
However, the RBI clarified that the extension or modification of the directions should not, by itself, be construed as an indication that it is satisfied with the bank’s financial position.
All other terms and conditions of the existing directions will remain unchanged.
