Date: 2025-08-07Category: Not ApplicableState: Union GovernmentCountry: India
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru (Karnataka) - Extension of Period
**Summary:**
The Reserve Bank of India (RBI) has extended the restrictions imposed on Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka, for an additional three months, from the close of business on August 10, 2025, to the close of business on November 10, 2025, subject to review. This extension is issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The initial directions were issued on January 2, 2020, and have been extended periodically, with the most recent extension prior to this one being issued on May 6, 2025, lasting until August 10, 2025. The RBI has determined that this extension is necessary in the public interest. The terms and conditions of the original directive remain unchanged. This extension should not be interpreted as an indication of the RBI's satisfaction with the bank's financial position. For further information, contact the Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001, at helpdocrbi.org.in or phone 022-2266 0502. The press release number is 2025-2026/860.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for issuing the directions and extending the period of operation of the directive.
Banking Regulation Act, 1949: Indian legislation under which the Reserve Bank of India issued the directions.
Section 35A: Section of the Banking Regulation Act, 1949, that grants power to Reserve Bank of India to issue directions.
Section 56: Section of the Banking Regulation Act, 1949, related to cooperative societies
Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka: A cooperative bank in Bengaluru, Karnataka, to which the directions are issued.
August 10, 2025: The date until which the previous extension of the directive was valid.
November 10, 2025: The date until which the directive is extended.
Puneet Pancholy: Chief General Manager who released the press release.
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
August 07, 2025
Directions under Section 35A read with Section 56 of the Banking Regulation
Act, 1949 - Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru
(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 Sri Guru Raghavendra Sahakara Bank
Niyamitha, Bengaluru, Karnataka vide Directive No. DOS.CO.UCB.BSD-III.D-
2/12.23.283/2019-20 dated January 02, 2020, for a period of six months up to July
10, 2020, as modified from time to time, which were last extended up to the close of
business on August 10, 2025 vide Directive No. DOR.MON/D-08/12.23.283/2025-26
dated May 6, 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 August
10, 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 August 10, 2025, to close of business on November 10, 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. Other terms and conditions of the Directive under reference shall remain
unchanged.
(Puneet Pancholy)
Press Release: 2025-2026/860 Chief General Manager