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(23/12/2025 11:54)

RBI Extends Directions on Shree Mahalaxmi Urban Co-operative Credit Bank, Gokak, Till March 27, 2026

Reserve Bank of India (RBI) has extended the Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 on Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak (Karnataka), for a further period of three months.

The Directions were originally imposed vide Directive No. CO.DOS.SED.No.S4800/12-23-151/2024-25 dated September 26, 2024, for six months up to the close of business on March 27, 2025. Following a review and in the public interest, RBI has now decided to extend the operation of the Directive from the close of business on December 27, 2025 to March 27, 2026, subject to further review.

The central bank clarified that the extension and/or modification of the Directive should not be construed as RBI being satisfied with the financial position of the bank.

RBI also stated that all other terms and conditions of the original Directive will remain unchanged during the extended period.
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