Urban Co-operative Bank Ltd., Sitapur (U.P)

RBI extended the existing Section 35A Directions on Urban Co-operative Bank Ltd., Sitapur (U.P) until January 28, 2024. The order continues the same restrictions already in force.

The bank remains subject to the same RBI operating restrictions already in place, and those restrictions continue through January 28, 2024 unless modified earlier by RBI. Depositors and the bank’s operations remain affected by the continuing directions.

• Section 35 A 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

RBI extended the Section 35A Directions on Urban Co-operative Bank Ltd., Sitapur (U.P) until October 28, 2023. The existing terms and conditions remain unchanged.

The bank must continue complying with the existing Section 35A Directions through October 28, 2023, subject to any future review or modification by RBI. The release does not cancel the banking licence, but it keeps the bank operating under the same restrictions already in place.

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

RBI extended the Section 35A directions on Urban Co-operative Bank Ltd., Sitapur (U.P.) for another three months. The order continues the existing operating restrictions, subject to review.

The bank remains subject to the existing RBI operating directions through July 28, 2023 unless modified earlier by RBI. Any business limitations already contained in the directive continue to apply to the bank, affecting its operations and customers during the extension period.

• Section 35 A read with section 56 of the Banking Regulation Act, 1949 (AACS)

RBI extended the existing Section 35A directions on Urban Co-operative Bank Ltd., Sitapur (U.P.) for three months. The bank remains under the same restrictions through April 28, 2023, subject to review.

Urban Co-operative Bank Ltd., Sitapur (U.P.) remains subject to RBI’s existing operating directions for the extension period ending April 28, 2023, unless modified earlier by RBI. The bank and its customers are affected by whatever operational limits those directions impose, but the release itself does not describe any new additional restriction beyond continuation.

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

RBI imposed a ₹5 lakh penalty on Urban Co-operative Bank Ltd., Sitapur (U.P.). The action followed violations of RBI directions on investments, KYC, CIC membership, and income recognition/asset classification/provisioning norms.

The bank must bear the financial penalty; the release does not impose any additional operational restriction. The forward-looking impact is limited to the monetary sanction and compliance signalling, with no stated change in deposit-taking or lending powers.

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