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(17/07/2026 10:12)

RBI extends restrictions on The Konark Urban Co-operative Bank till October 23

The Reserve Bank of India (RBI) has extended the operational restrictions imposed on The Konark Urban Co-operative Bank Ltd., Ulhasnagar for another three months, from July 23, 2026, to October 23, 2026, subject to review.

The restrictions, originally imposed in April 2024 under the Banking Regulation Act, have been extended in the public interest. RBI clarified that all other terms and conditions of the existing directive will remain unchanged.

The central bank also emphasized that the extension of these directions should not be interpreted as an indication that it is satisfied with the bank's financial position.
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