The Reserve Bank of India (RBI) has extended the regulatory Directions imposed on The Konark Urban Co-operative Bank Ltd., Ulhasnagar, for another three months, until the close of business on January 23, 2027, subject to review.

The central bank initially issued the Directions on April 23, 2024, under Section 35A read with Section 56 of the Banking Regulation Act, 1949, for a period of six months. The Directions were subsequently extended, most recently until October 23, 2026, through an order dated July 15, 2026.

The latest extension has been issued in the public interest under Section 35A(1), read with Section 56 of the Banking Regulation Act, 1949.

The RBI clarified that the extension or modification of the Directions should not be construed as an indication that it is satisfied with the bank's financial position. All other terms and conditions of the existing Directions will remain unchanged.