MUMBAI, India, July 14 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to National Urban Co-operative Bank Ltd., Pratapgarh, vide Directive CO.DOS.SED.No.S369/45-11-001/2024-25 dated April 15, 2024, for a period of six months up to close of business on October 15, 2024, which was last extended up to close of business on July 15, 2025, vide Directive DOR.MON/D-03/12.28.017/2025-26 dated April 04, 2025. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond the close of business on July 15, 2025.
2. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business on July 15, 2025 to close of business on October 15, 2025, subject to review.
3. All other terms and conditions of the Directive under reference shall remain unchanged.
(Puneet Pancholy)
Chief General Manager
Press Release: 2025-2026/709
Disclaimer: Curated by HT Syndication.