Date: 2025-10-17Category: Not ApplicableState: Union GovernmentCountry: India
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Konark Urban Co-operative Bank Ltd., Ulhasnagar – Extension of Period
On October 17, 2025, the Reserve Bank of India (RBI) issued a press release regarding the Konark Urban Co-operative Bank Ltd., Ulhasnagar. The directions imposed on the bank on April 23, 2024, under directive CO.DOS.SED.No.S592/45-11-001/2024-25, have been extended. The initial directions were for six months. As per directive DOR.MON/D-37/12.22.805/2025-26 dated October 17, 2025, the directions will continue to apply from the close of business on October 23, 2025, until the close of business on January 23, 2026, subject to review. All other terms and conditions of the original directives remain unchanged. A copy of the directive is available at the bank's premises. This extension should not be construed as an indication of the RBI's satisfaction with the bank's financial position. The press release number is 2025-2026/1343. Brij Raj, Chief General Manager, is the contact person. RBI's website is www.rbi.org.in, and the email address is helpdoc@rbi.org.in. The Department of Communication is located at Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001. The phone number is 022 - 2266 0502.
Key Entities Referenced
Banking Regulation Act, 1949: The law under which directions are issued, specifically related to Section 35A read with Section 56, concerning regulation of banking companies.
Reserve Bank of India: The central bank that issued the directions to the Konark Urban Co-operative Bank Ltd.
Konark Urban Co-operative Bank Ltd., Ulhasnagar: The bank to which directions are issued by the Reserve Bank of India.
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
October 17, 2025
Directions under Section 35A read with Section 56 of the Banking Regulation
Act, 1949 – The Konark Urban Co-operative Bank Ltd., Ulhasnagar –
Extension of Period
The Reserve Bank of India, vide directive CO.DOS.SED.No.S592/45-11-
001/2024-25 dated April 23, 2024, had placed the Konark Urban Co-operative Bank
Ltd., Ulhasnagar, under Directions from the close of business on April 23, 2024, for a
period of six months. The validity of the directions was extended from time-to-time,
the last being up to October 23, 2025.
2. It is hereby notified for the information of the public that, the Reserve Bank of India,
in exercise of powers vested in it under sub-section (1) of Section 35 A read with
Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid
Directions shall continue to apply to the bank from close of business on October 23,
2025, till close of business on January 23, 2026, as per the directive DOR.MON/D-
37/12.22.805/2025-26 dated October 17, 2025, subject to review.
3. All other terms and conditions of the Directives under reference shall remain
unchanged. A copy of the directive dated October 17, 2025, notifying the above
extension is displayed at the bank’s premises for the perusal of public.
4. The aforesaid extension and /or modification by the Reserve Bank of India should
not per-se be construed to imply that Reserve Bank of India is satisfied with the
financial position of the bank.
(Brij Raj)
Press Release: 2025-2026/1343 Chief General Manager