Date: 2026-01-23Category: 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
On January 23, 2026, the Reserve Bank of India (RBI) issued an extension to the Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949, for the Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow. These directions were initially issued on January 28, 2022, under Directive DOS.CO.OCCD.185569/12.28.007/2021-22, and previously extended up to January 27, 2026, under Directive DOR.MON.No.D-34/12.28.007/2025-26 dated October 14, 2025. The RBI extends the directive for a further three months, from January 27, 2026, to April 27, 2026, subject to review. All other terms and conditions of the Directives remain unchanged. The press release number is 2025-2026/1978. Brij Raj, Chief General Manager. Contact information: Website: www.rbi.org.in; email: helpdoc@rbi.org.in; Phone: 022-2266 0502. Address: Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai-400 001.
Key Entities Referenced
Banking Regulation Act, 1949: The primary legislation under which directions are issued.
Section 35A: Section of the Banking Regulation Act, 1949, that grants the Reserve Bank of India the power to issue directions to banking companies.
Section 56: Section of the Banking Regulation Act, 1949, concerning cooperative banks.
Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow: The specific cooperative bank to which the directions apply.
Reserve Bank of India: The regulator issuing the directions.
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
January 23, 2026
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 up to close of business on July 27,
2022, as modified from time to time, which were last extended up to close of
business on January 27, 2026 vide Directive DOR.MON.No.D-34/12.28.007/2025-26
dated October 14, 2025. The Reserve Bank of India is satisfied that in public interest,
it is necessary to further extend the period of operation of the Directive beyond close
of business on January 27, 2026.
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 on January 27, 2026 to close of business on April 27, 2026, subject
to review.
3. Other terms and conditions of the Directives under reference shall remain
unchanged.
(Brij Raj)
Press Release: 2025-2026/1978 Chief General Manager