Innovative Co-operative Urban Bank 3‑Month Extension

Document title: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Innovative Co-operative Urban Bank Limited, New Delhi – Extension of Period

Issuing authority: Reserve Bank of India

Reference number: Press Release: 2026-2027/1229

Date: October 01, 2026

Banking and Credit

The Reserve Bank of India, exercising powers under sub‑section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, has extended the operational directive previously issued to Innovative Co-operative Urban Bank Limited. The original directive (Directive No. DEL.DOS.EXG_SSM.No.S143/12-10-005/2025-2026) dated July 03, 2025 covered a six‑month period from close of business on July 04, 2025 to close of business on January 04, 2026. This was subsequently extended by Directive No. DOR.MON.D-19/12.28.123/2026-27 dated June 29, 2026. The current extension adds a further three months, effective from close of business on October 04, 2026 to close of business on January 04, 2027, and remains subject to review.

Regulatory and Policy Measures

The RBI explicitly states that the extension should not be construed as an indication that it is satisfied with the financial position of the bank. All other terms and conditions of the original directive continue to apply unchanged. The extension is issued in the public interest to allow continued operation of the bank under the existing regulatory framework.

This extension reflects the RBI’s ongoing supervisory oversight of cooperative urban banks and its willingness to provide temporary regulatory relief while monitoring the institution’s financial health.