Date: 2026-02-04Category: Not ApplicableState: Union GovernmentCountry: India
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Sikar Urban Co-operative Bank Ltd, Sikar – Withdrawal of Directions
On February 04, 2026, the Reserve Bank of India (RBI) issued a press release stating that the Directions issued to Sikar Urban Co-operative Bank Ltd, Sikar under Section 35A read with Section 56 of the Banking Regulation Act, 1949 have been withdrawn with effect from the close of business on February 04, 2026. The original Directions were issued on October 26, 2018, for a period of six months vide Directive No. DCBS. CO BSD-I/D-2/ 12.27.215/ 2018-19 and were last extended up to the close of business on March 09, 2026. The RBI withdrew the directions after reviewing the financial position of the bank and being satisfied that it is necessary in the public interest. The press release number is 2025-2026/2043. Contact information for the 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, is the contact person.
Key Entities Referenced
Banking Regulation Act, 1949: Governs banking companies in India.
Reserve Bank of India: India's central bank.
Sikar Urban Co-operative Bank Ltd, Sikar: Urban co-operative bank in Sikar, subject to the directions and subsequent withdrawal of directions by RBI.
Section 35A: Section of the Banking Regulation Act, 1949, that allows RBI to give directions to banking companies.
Section 56: Section of the Banking Regulation Act, 1949, that allows RBI to take action on cooperative banks.
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
February 04, 2026
Directions under Section 35A read with Section 56 of the Banking Regulation
Act, 1949 – Sikar Urban Co-operative Bank Ltd, Sikar –
Withdrawal of Directions
The Reserve Bank of India issued Directions under Section 35A read with Section
56 of the Banking Regulation Act, 1949 to Sikar Urban Co-operative Bank Ltd, Sikar
vide Directive No. DCBS. CO BSD-I/D-2/ 12.27.215/ 2018-19 dated October 26,
2018, for a period of six months. The same were modified from time to time and were
last extended up to close of business on March 09, 2026.
2. After reviewing the financial position of the bank, the Reserve Bank of India, on
being satisfied that in the public interest it is necessary to do so and in exercise of the
powers vested in it under sub-section (2) of Section 35A read with Section 56 of the
Banking Regulation Act, 1949, hereby withdraws the Directions issued to Sikar Urban
Co-operative Bank Ltd, Sikar with effect from the close of business on February 04,
2026.
(Brij Raj)
Press Release: 2025-2026/2043 Chief General Manager