Case Brief
What Happened
The Reserve Bank of India has further extended the operative period of its existing directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against Innovative Co-operative Urban Bank Limited, New Delhi. The directive now runs from close of business on July 04, 2026 to close of business on October 04, 2026, subject to review. RBI clarified that the extension does not imply satisfaction with the bank's financial position and that all other terms and conditions continue unchanged.