Date: 2025-12-23Category: 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
On December 23, 2025, the Reserve Bank of India (RBI) issued a press release regarding the extension of directions for Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak (Karnataka). The RBI, in exercise of powers under Section 35A read with Section 56 of the Banking Regulation Act, 1949, extends the Directive No. CO.DOS.SED.No.S4800/12-23-151/2024-25 dated September 26, 2024, for a further period of three months, from December 27, 2025, to March 27, 2026. The extension is subject to review. The RBI clarifies that this extension should not be construed as an indication of satisfaction with the bank's financial position, and all other terms and conditions of the original directive remain unchanged.
Press Release: 2025-2026/1755.
Contact: Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001. Phone: 022 - 2266 0502. Website: www.rbi.org.in. email: helpdoc@rbi.org.in.
(Brij Raj)
Chief General Manager
Key Entities Referenced
Banking Regulation Act, 1949: Governs banking companies in India.
Section 35A: Section of the Banking Regulation Act, 1949, providing powers to the Reserve Bank of India to issue directions to banking companies.
Section 56: Section of the Banking Regulation Act, 1949, related to co-operative banks.
Reserve Bank of India: Central bank of India, issuing the directive.
Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak (Karnataka): Urban co-operative bank to which the directions apply.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
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
December 23, 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 (Karnataka) vide Directive No. CO.DOS.SED.No.S4800/12-
23-151/2024-25 dated September 26, 2024, for a period of six months up to close of
business on March 27, 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 December 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 on December 27, 2025 to close of business on March 27, 2026,
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. Other terms and conditions of the Directive under reference, shall remain
unchanged.
(Brij Raj)
Press Release: 2025-2026/1755 Chief General Manager