Date: 2025-07-24Category: Not ApplicableState: Union GovernmentCountry: India
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow – Extension of period
**Summary:**
The Reserve Bank of India (RBI) has extended the restrictions imposed on the Indian Mercantile Cooperative Bank Limited (IMCBL), Lucknow, for an additional three months, effective from the close of business on July 27, 2025, to the close of business on October 27, 2025. This extension is issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The initial directions were issued on January 28, 2022, and have been extended periodically, with the most recent extension prior to this one being on April 16, 2025, lasting until July 27, 2025. The RBI deems this extension necessary in the public interest. The terms and conditions of the original directives remain unchanged. Contact information for inquiries is available through the Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001, email: helpdoc@rbi.org.in, phone: 022-2266 0502. The press release number is 2025-2026/776.
Key Entities Referenced
Reserve Bank of India: The central bank of India, which issued the directions.
Banking Regulation Act, 1949: The act under which the Reserve Bank of India issued the directions. Specifically, Section 35A read with Section 56 of the act.
Indian Mercantile Cooperative Bank Limited IMCBL, Lucknow: The cooperative bank to which the directions were issued; located in Lucknow, Uttar Pradesh.
Lucknow, Uttar Pradesh: City in Uttar Pradesh where the Indian Mercantile Cooperative Bank Limited is located.
Section 35A: Section of the Banking Regulation Act, 1949 that empowers the Reserve Bank of India to issue directions to banking companies.
Section 56: Section of the Banking Regulation Act, 1949 related to cooperative banks.
July 27, 2025: The date until which the directions were previously extended and the date from which the current extension begins.
October 27, 2025: The date until which the directions are extended.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
July 24, 2025
Directions under Section 35A read with Section 56 of the Banking Regulation
Act, 1949 – Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow –
Extension of period
The Reserve Bank of India issued Directions under Section 35A read with Section
56 of the Banking Regulation Act, 1949, to Indian Mercantile Co-operative Bank
Limited (IMCBL), Lucknow vide Directive DOS.CO.OCCD.185569/12.28.007/2021-22
dated January 28, 2022 for a period of six months upto July 27, 2022, as modified
from time to time, which were last extended upto July 27, 2025 vide Directive
DOR.MON/D-05/12.28.007/2025-26 dated April 16, 2025. The Reserve Bank of India
is satisfied that in the public interest, it is necessary to further extend the period of
operation of the Directive beyond July 27, 2025.
2. Accordingly, the Reserve Bank of India, in the exercise of powers vested in it
under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation
Act, 1949, hereby extends the Directive for a further period of three months from
close of business of July 27, 2025 to close of business of October 27, 2025, subject
to review.
3. Other terms and conditions of the Directives under reference shall remain
unchanged.
(Puneet Pancholy)
Press Release: 2025-2026/776 Chief General Manager