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The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Baghat Urban Co-operative Bank Limited, Solan vide Directive SML.DCBS.CRRB.No.S79/02-31-005/2025-2026 dated October 06, 2025, for a period of six months from close of business on October 08, 2025 up to close of business on April 08, 2026. 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 close of business on April 08, 2026. 2. Accordingly, the Reserve Bank of India, in the exercise of 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 April 08, 2026 to close of business on July 08, 2026, subject to review. 3. The aforesaid extension 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. (Brij Raj) Press Release: 2026-2027/31 |
