The Reserve Bank of India has extended the regulatory restrictions imposed on Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak (Karnataka), for a further period of three months, up to June 27, 2026.
The directions were originally issued in September 2024 under Sections 35A and 56 of the Banking Regulation Act, 1949, and were earlier valid till March 27, 2026. The extension has been granted in public interest and will remain subject to periodic review by the central bank.
The RBI clarified that the continuation of these restrictions should not be construed as an indication of satisfaction with the bank’s financial position. All existing terms and conditions of the directive will continue unchanged during the extended period.
Such regulatory measures are typically imposed to safeguard depositors’ interests and ensure stability, indicating that the bank remains under close supervisory watch as corrective steps are monitored.
