The Reserve Bank of India (RBI) has extended its directions on two cooperative banks, Innovative Co-operative Urban Bank Ltd., New Delhi, and The Industrial Co-operative Bank Ltd., Guwahati, for another three months, taking the period up to January 4, 2027.
In the case of Innovative Co-operative Urban Bank, the RBI said the directions, originally issued in July 2025 and subsequently extended, will now remain in force from the close of business on October 4, 2026, to the close of business on January 4, 2027, subject to review.
Similarly, the directions imposed on the Industrial Co-operative Bank, Guwahati, have been extended for the same period. The RBI said the extensions have been made in the public interest under Section 35A read with Section 56 of the Banking Regulation Act, 1949.
The central bank clarified that the extension should not per se be construed as an indication that it is satisfied with the financial position of either bank.
All other terms and conditions of the existing directions will remain unchanged.
