Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – The Imperial Urban Cooperative Bank Ltd., Jalandhar – Extension of Period The Reserve Bank of India issued Directions under S

The Reserve Bank of India (RBI) has extended the period of operation of Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) to The Imperial Urban Cooperative Bank Ltd., Jalandhar.

Originally issued on March 9, 2023, for a period of six months, and last extended up to September 10, 2024, the Directions are now extended for a further three months, until December 10, 2024, in the public interest.

RBI stated that all other terms and conditions of the Directions remain unchanged.

The extension is part of RBI’s ongoing supervisory measures to ensure regulatory compliance and financial stability in co-operative banks.

[RBI]