Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, initially for six months ending July 10, 2020. The regulator later extended these restrictions multiple times, citing public interest. The latest extension follows the directive dated January 2, 2020, which imposed supervisory measures on the cooperative bank.

On November 10, 2026, the Reserve Bank of India announced a further six-month extension of the Directive, effective from close of business on November 10, 2026 to May 10, 2027. The extension is subject to periodic review and does not indicate satisfaction with the bank’s financial position. The original terms and conditions of the Directive remain unchanged during this period.

The Directive, issued under specific sections of the Banking Regulation Act, 1949, empowers the Reserve Bank of India to regulate the operations of cooperative banks. These directions are typically imposed to address governance, financial stability, or compliance concerns. The bank is required to comply with all stipulated conditions during the extended period.

The Reserve Bank of India’s decision reflects ongoing supervisory oversight of Sri Guru Raghavendra Sahakara Bank Niyamitha. The extension ensures continued regulatory scrutiny while the bank addresses identified issues. Stakeholders are advised to monitor updates from the regulator regarding further developments.