Case Brief
What Happened
The Reserve Bank of India extended the period of operation of its 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 earlier directive, last extended up to July 30, 2026, has now been extended for another three months, until close of business on October 30, 2026, subject to review. The release clarifies that the extension or modification should not be construed as RBI being satisfied with the bank’s financial position, and that all other terms and conditions of the directive remain unchanged.