Date: 2025-09-19Category: Not ApplicableState: Union GovernmentCountry: India
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak (Karnataka) - Extension of Period
**Executive Summary:**
This press release from the Reserve Bank of India (RBI), dated September 19, 2025, announces the extension of a Directive issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949, concerning Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak. The directive's period of operation is extended for three months, from September 27, 2025, to December 27, 2025, subject to review.
**Key Points / Main Content:**
* **Extension of Directive:**
* The RBI extends the Directive issued to Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak.
* The extension is effective from September 27, 2025, to December 27, 2025.
* This extension is subject to review.
* **Legal Basis:**
* The extension is enacted under Section 35A read with Section 56 of the Banking Regulation Act, 1949.
* **Clarification:**
* The extension should not be interpreted as an indication of the RBI's satisfaction with the bank's financial position.
* **Terms and Conditions:**
* All other terms and conditions of the original Directive remain unchanged.
**Impact Analysis:**
**Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak:**
**Impact:**
The bank continues to operate under the constraints of the existing Directive for an additional three months.
**Action Required:**
The bank must continue to comply with all terms and conditions specified in the original directive.
Key Entities Referenced
Banking Regulation Act, 1949: Governing law referenced for directions.
Section 35A: Section of the Banking Regulation Act related to issuing directions to banks.
Section 56: Section of the Banking Regulation Act relevant to cooperative banks.
Reserve Bank of India: Issuer of the directions.
Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak (Karnataka): The cooperative bank subject to 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
September 19, 2025
Directions under Section 35A read with Section 56 of the Banking Regulation
Act, 1949 - Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak
(Karnataka) - Extension of Period
The Reserve Bank of India issued Directions under Section 35A read with Section
56 of the Banking Regulation Act, 1949 to Shree Mahalaxmi Urban Co-operative
Credit Bank Ltd., Gokak vide Directive No. CO.DOS.SED.No.S4800/12-23-151/2024-
2025 dated September 26, 2024, for a period of six months up to close of business
on March 27, 2025 as modified from time to time, which were extended upto June 27,
2025 vide Directive No. DOR.MON/D-110/12.23.151/2024-25 dated March 25, 2025
and further extended upto September 27, 2025 vide Directive No. DOR.MON/D-
16/12.23.151/2025-26 dated June 24, 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 close of business on September 27, 2025.
2. Accordingly, the Reserve Bank of India, in exercise of the 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 September 27, 2025, to close of business on December 27,
2025, subject to review.
3. The aforesaid extension and /or modification by the Reserve Bank of India should
not per-se be construed to imply that the Reserve Bank of India is satisfied with the
financial position of the bank.
4. All other terms and conditions of the Directive under reference shall remain
unchanged.
(Puneet Pancholy)
Press Release: 2025-2026/1136 Chief General Manager