The Reserve Bank of India (RBI) has extended the Directions imposed on the Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal, for a further period of three months, citing public interest.
The Directions, issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (as applicable to co-operative societies), were originally imposed on July 21, 2022, for six months. Since then, the restrictions have been modified and extended periodically, with the last extension valid up to the close of business on January 22, 2026.
According to the latest RBI directive, the period of operation of these Directions has now been extended from January 22, 2026, to April 22, 2026, subject to further review. The central bank stated that it is satisfied that the continuation of the Directions is necessary in the public interest.
The RBI clarified that all other terms and conditions of the existing Directions will remain unchanged during the extended period.
Such Directions typically place restrictions on certain banking operations to protect depositors’ interests and to address supervisory concerns, while the regulator continues to monitor the bank’s financial position and compliance status.
