Case brief
RBI has extended the existing Section 35A directions against Indian Mercantile Co-operative Bank Limited, Lucknow. The same terms continue until close of business on April 27, 2026.
Impact
IMCBL remains subject to the same RBI-imposed operating restrictions through April 27, 2026 unless reviewed or changed earlier. The bank must continue complying with the existing directions, and customers, depositors, and counterparties remain affected by the ongoing restrictions.
Why RBI acted
Regulatory basis
- Section 35A read with Section 56 of the Banking Regulation Act, 1949
- sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949