Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Motiram Agrawal Jalna Merchants Co-operative Bank Ltd, Jalna – Extension
The Reserve Bank of India extended supervisory directives for Motiram Agrawal Jalna Merchants Co-operative Bank Ltd by three months, until January 10, 2027, citing public interest.
The Reserve Bank of India issued a directive under Sections 35A and 56 of the Banking Regulation Act, 1949 to Motiram Agrawal Jalna Merchants Co-operative Bank Ltd, Jalna, initially valid for six months until October 10, 2026. The central bank cited public interest as the basis for extending the directive’s duration beyond the original deadline.
The RBI formally extended the directive for an additional three months, from October 10, 2026, to January 10, 2027, using powers granted under the Banking Regulation Act. The extension remains subject to periodic review by the regulator during this period.
The RBI emphasized that the extension does not indicate satisfaction with the bank’s financial position, cautioning stakeholders against misinterpretation. The central bank underscored that the directive’s other terms and conditions remain unchanged throughout the extended period.
The directive’s extension applies specifically to Motiram Agrawal Jalna Merchants Co-operative Bank Ltd, Jalna, and does not alter the original scope or obligations imposed by the RBI. The bank must continue complying with all prior conditions set by the regulator.