Document title: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Konark Urban Co-operative Bank Ltd., Ulhasnagar – Extension of Period
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/690
Date: July 17, 2026
Regulatory and Policy Measures
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 earlier directive issued to Konark Urban Co‑operative Bank Ltd., Ulhasnagar. The original directive (No. CO.DOS.SED.No.S592/45-11-001/2024-25) dated April 23, 2024 prescribed a six‑month period ending on October 23, 2024. This was subsequently extended to close of business on July 23, 2026 by Directive No. DOR.MON/D-07/12.22.805/2026-27 dated April 17, 2026. The present extension adds a further three months, moving the expiry to close of business on October 23, 2026, and is subject to review.
The RBI explicitly states that this extension and any modification should not be construed as an indication that the RBI is satisfied with the bank’s financial position. All other terms and conditions of the original directive remain unchanged.
The press release is identified as 2026-2027/690 and is signed by the Chief General Manager, Brij Raj.