Document title: Directions under Section 35A read with Section 56 – Valsad Mahila Nagrik Sahakari Bank Ltd – Extension of Period
Issuing authority: Reserve Bank of India
Reference number: Press Release: 2026-2027/456
Date: 15 June 2026
Regulatory and Policy Measures
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Valsad Mahila Nagrik Sahakari Bank Ltd, Valsad, Gujarat, via Directive No.AMD.DOS.SSM.No.S831/11-03-153/2025-2026 dated 17 December 2025. The original directive was for a period of six months, expiring at the close of business on 18 June 2026.
On 15 June 2026 the RBI exercised its powers under subsection (1) of Section 35A read with Section 56 to extend the directive for an additional three months, now ending at the close of business on 18 September 2026, subject to review.
The RBI expressly stated 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.
In summary, the RBI has prolonged the supervisory directive for Valsad Mahila Nagrik Sahakari Bank by three months, maintaining existing conditions and emphasizing that the extension does not signal financial improvement.