Case Brief
What Happened
The Reserve Bank of India has extended the period of operation of its existing Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow. The directive, originally issued on January 28, 2022 and last extended up to July 27, 2025, is now extended for a further three months from close of business on July 27, 2025 to close of business on October 27, 2025, subject to review. RBI states that the other terms and conditions of the directive remain unchanged.