The Reserve Bank of India (RBI), in a press release dated 19 October 2026, announced a further three-month extension of the directions issued to The Konark Urban Co-operative Bank Ltd., Ulhasnagar, Maharashtra, under section 35A read with section 56 of the Banking Regulation Act, 1949.
The existing directions were originally imposed through Directive No. CO.DOS.SED.No.S592/45-11-001/2024-25 dated 23 April 2024. Their validity had most recently been extended up to the close of business on 23 October 2026 through Directive No. DOR.MON/D-26/12.22.805/2026-27 dated 15 July 2026.
The latest extension keeps the directions in force from the close of business on 23 October 2026 until the close of business on 23 January 2027, subject to further review. The RBI states that all other terms and conditions of the existing directive remain unchanged. It also clarifies that the extension or modification should not, by itself, be interpreted as the RBI being satisfied with the bank's financial position.
Depositors and businesses dealing with the bank should refer to the continuing original directions and subsequent modifications to establish the specific restrictions applicable to their transactions.