RBI Extends Restrictions on Pusad Urban Co-operative Bank
The Reserve Bank of India has extended operational directions imposed on The Pusad Urban Co-operative Bank Ltd. for an additional three months until November 07, 2026.
The Reserve Bank of India (RBI) has extended regulatory directions on The Pusad Urban Co-operative Bank Ltd., located in Maharashtra's Yavatmal district, for an additional three months. The operational period of the directive will now run through November 07, 2026, subject to periodic review.
The central bank initially imposed directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949, on November 06, 2025. The restrictions were first put in place for six months ending May 07, 2026, and were subsequently extended through August 07, 2026, before this latest decision.
According to the RBI, the extension was deemed necessary in the public interest. The central bank emphasized that extending these directions does not signify satisfaction with the co-operative bank's financial condition. All existing terms and conditions specified under the original directive remain unchanged during this extended period.
Source attribution
- rbi.org.in
Original source links
- rbi.org.in: Original source
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RBI · Pusad Urban Co-operative Bank · Banking Regulation Act · India Banking · Finance
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