Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Innovative Co-operative Urban Bank Limited, Delhi – Extension of Period
Case Brief
The Reserve Bank of India has further extended the Directions issued to Innovative Co-operative Urban Bank Limited, Delhi under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The extension runs from close of business on April 04, 2026 to close of business on July 04, 2026, and all other terms and conditions of the directive remain unchanged. RBI also stated that the extension should not be construed as approval of the bank's financial position.
The Reserve Bank of India extended the Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Innovative Co-operative Urban Bank Limited, Delhi. The original directive dated July 03, 2025 was already extended to April 04, 2026, and RBI has now further extended it from close of business on April 04, 2026 to close of business on July 04, 2026, subject to review. The press release states that other terms and conditions of the directive remain unchanged and notes that the extension should not be construed as satisfaction with the bank's financial position.
Severity Assessment
This is an extension of RBI Directions under Section 35A/56, which the rubric treats as a broad business restriction with severity 4.
The bank continues to operate under the existing RBI directions through July 04, 2026, subject to review. Customers and counterparties remain affected by whatever operational restrictions are contained in the underlying directive, which has not otherwise changed.
Published as Innovative Co-operative Urban Bank Limited, Delhi
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