Mumbai: The Reserve Bank of India (RBI) has extended the regulatory directions imposed on Innovative Co-operative Urban Bank Ltd., New Delhi, and The Industrial Co-operative Bank Ltd., Guwahati, for another three months.
The directions for both cooperative banks will now remain in force from the close of business on October 4, 2026, until the close of business on January 4, 2027, subject to further review by the central bank.
In the case of Innovative Co-operative Urban Bank, the directions were originally imposed in July 2025 and have been extended periodically since then. The latest extension continues the existing restrictions without changing their terms.
The directions applicable to The Industrial Co-operative Bank, Guwahati, have also been extended for the same period.
According to the RBI, the extensions have been issued in the public interest under Section 35A read with Section 56 of the Banking Regulation Act, 1949.
The central bank has clarified that continuation of the directions should not, by itself, be interpreted as an indication that the RBI is satisfied with the financial position of either cooperative bank.
All other conditions and restrictions contained in the existing directions will continue to remain unchanged during the extended period.
The extensions underline the RBI’s ongoing regulatory oversight of cooperative banks and its focus on ensuring compliance and financial stability within the sector.