National Mercantile Co-operative Bank Ltd., Lucknow (U.P.)

RBI has extended the existing Section 35A Directions on National Mercantile Co-operative Bank Ltd., Lucknow. The directions will continue unchanged until December 10, 2024, subject to review.

The bank remains under RBI Directions for the extended period, so its operations continue to be constrained under the existing terms. The order affects the bank and, depending on the original Directions, may continue to limit ordinary business conduct until the review date or further RBI action.

• Section 35A read with section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)

RBI extended the existing Section 35A directions on National Mercantile Co-operative Bank Ltd., Lucknow, keeping the restrictions in force until September 10, 2024. The order leaves all other terms unchanged.

The bank remains under the same RBI operating Directions through September 10, 2024, so its business continues to be constrained under the existing conditions. Members, depositors, and other stakeholders remain subject to those unchanged restrictions during the extension period, subject to RBI review.

• Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)

RBI extended its Section 35A directions on National Mercantile Co-operative Bank Ltd., Lucknow. The order now continues up to June 10, 2024, with all other terms unchanged.

The bank remains under RBI operating directions through close of business on June 10, 2024, unless modified earlier by RBI. Its operations continue to be constrained under the unchanged terms of the existing order, and members/public should rely on the published directions at the bank’s premises. Depositors and other stakeholders remain subject to the conditions imposed by the ongoing restrictions.

• 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 (As Applicable to Co-operative Societies)

RBI extended the existing Directions against National Mercantile Co-operative Bank Ltd., Lucknow for three more months. The earlier operational restrictions continue unchanged.

The bank remains subject to the same Section 35A operating restrictions through March 10, 2024, unless RBI reviews and changes them earlier. Members and customers continue to face the consequences of the existing directions, and the bank must comply with the unchanged terms of the order.

• Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS)
• sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)

RBI has extended the existing Section 35A directions on National Mercantile Co-operative Bank Ltd., Lucknow (U.P.) until December 10, 2023. The original terms remain unchanged.

The bank remains under the same RBI operational restrictions for the extended period, with all prior terms and conditions continuing unchanged. Members, depositors, and counterparties must continue to operate within the limits set by the directions until December 10, 2023, unless RBI modifies them earlier.

• 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 (As Applicable to Co-operative Societies)

RBI has imposed a ₹50,000 penalty on National Mercantile Co-operative Bank Ltd., Lucknow, for delayed submission of compliance. The bank was penalised after a show-cause process and hearing.

The bank must absorb the monetary penalty; no additional operational restriction is described in the release. The action serves as a compliance enforcement measure for the bank's reporting and compliance processes.

• Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)