The Irinjalakuda Town Co-operative Bank Ltd

RBI has extended the existing Section 35A read with Section 56 directions on The Irinjalakuda Town Co-operative Bank Ltd., Kerala. The order now runs until the close of business on October 30, 2026.

The bank remains subject to the same RBI directions for an additional three months, so any operational constraints already in place continue through October 30, 2026 unless reviewed/modified earlier. Depositors, customers, and counterparties remain affected by the unchanged terms of the directive.

• 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

RBI has extended its existing Directions for The Irinjalakuda Town Co-operative Bank Ltd. by another three months, up to close of business on July 30, 2026. The earlier terms remain unchanged.

The bank remains subject to the same RBI operating conditions and restrictions through July 30, 2026. Customers and counterparties should expect the earlier constraints to continue without change, pending further review by RBI.

• 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

RBI extended the existing Section 35A/Section 56 Directions on The Irinjalakuda Town Co-operative Bank Ltd., Kerala for three more months. The terms remain unchanged and the order now runs until April 30, 2026, subject to review.

The bank must continue operating under the same RBI-imposed restrictions through April 30, 2026, unless modified earlier on review. The extension preserves the existing constraints on the bank and continues to affect the bank's customers and counterparties until the directive is lifted or revised.

• 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

RBI superseded the Board of Irinjalakuda Town Co-operative Bank Ltd. for 12 months. An administrator and committee of advisors were appointed to run the bank.

The bank’s elected board will no longer manage operations for 12 months; instead, an RBI-appointed Administrator will oversee the bank with assistance from the Committee of Advisors. This affects the bank’s governance and decision-making, while the earlier-mentioned Section 35A directions remain separately noted in the release.

• Section 36 AAA read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies)

RBI placed Irinjalakuda Town Co-operative Bank Ltd under Section 35A directions restricting lending, deposits, investments, and other core activities. Depositor withdrawals are capped at ₹10,000 per account for six months.

The bank must operate under strict RBI-imposed constraints until the directions are modified or lapse, limiting normal banking activity and asset/liability management. Depositors face withdrawal limits, while the bank can continue only limited essential operations and must comply with the specified conditions during the six-month period starting July 30, 2025.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949