Regulatory and Policy Measures
The Reserve Bank of India exercised its powers under sub‑section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 to extend an earlier directive (Directive No. DoS.CO.UCB.BSD‑III.D‑2/12.23.283/2019‑20 dated 02 January 2020) that was originally limited to six months, expiring on 10 July 2020. The extension now covers an additional six‑month period, commencing at the close of business on 10 November 2026 and terminating at the close of business on 10 May 2027, and remains subject to further review by the RBI.
The RBI expressly stated that this extension and any modification thereof should not be interpreted as an indication that the RBI is satisfied with the financial position of Sri Guru Raghavendra Sahakara Bank Niyamitha. All other terms and conditions of the original directive continue to apply unchanged.
The press release is signed by the Chief General Manager, Brij Raj.
The RBI’s action reflects its continued supervisory oversight of the bank under the Banking Regulation Act, ensuring that the institution operates within the parameters set by the regulator while the bank’s financial health is assessed.
This extension underscores the RBI’s commitment to public interest considerations in the banking sector, without implying any improvement in the bank’s underlying financial condition.