Case Brief
What Happened
The Reserve Bank of India has further extended the existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against The Irinjalakuda Town Co-operative Bank Ltd., Kerala. The Directive, originally issued on July 29, 2025 and earlier extended to April 30, 2026, is now continued for an additional three months, until close of business on July 30, 2026, subject to review. RBI notes that the extension does not imply satisfaction with the bank’s financial position and that all other terms and conditions remain unchanged.