RBI extended the operational directive for Innovative Co-operative Urban Bank Ltd by three months, now ending on July 4 2026.
The previous extension had pushed the deadline to April 4 2026 after the original expiry on January 4 2026.
RBI clarified the extension does not indicate satisfaction with the bank’s financial health, and all prior terms remain unchanged.
The directive was issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949.