Case Brief
What Happened
The Reserve Bank of India has extended the period of its existing Directions against Konark Urban Co-operative Bank Ltd., Ulhasnagar. The bank had originally been placed under Directions from the close of business on April 23, 2024, for six months, with the validity extended from time to time and last up to October 23, 2025. Under the fresh directive dated October 17, 2025, the Directions will continue to apply from close of business on October 23, 2025, until close of business on January 23, 2026, subject to review. RBI also stated that all other terms and conditions of the Directions remain unchanged and that the extension should not be construed as satisfaction with the bank's financial position.