Case brief
RBI has extended its existing directions on Pusad Urban Co-operative Bank for three more months, up to November 07, 2026. The terms of the directive remain unchanged.
Impact
The bank must continue operating under the same RBI-imposed restrictions until close of business on November 07, 2026, unless further modified or withdrawn. Customers and counterparties remain subject to the operational limits embedded in the directive, and the bank's business activities continue to be constrained during the extension period.
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