Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Gujarat Rajya Karmachari Co-op. Bank Ltd., Ahmedabad – Extension of

The Reserve Bank of India (RBI) issued a directive under Sections 35A and 56 of the Banking Regulation Act, 1949, to The Gujarat Rajya Karmachari Co-op. Bank Ltd., Ahmedabad. The original directive, issued on March 11, 2026, was set to expire on September 11, 2026. The RBI cited public interest as the reason for extending these restrictions beyond the initial six-month period.

The RBI formally extended the directive for an additional three months, from September 11, 2026, to December 11, 2026. This extension is subject to ongoing review by the central bank. The decision was made under powers vested in the RBI under the specified sections of the Banking Regulation Act.

The Gujarat Rajya Karmachari Co-op. Bank Ltd. will continue to operate under the same terms and conditions outlined in the original directive. No changes were made to the existing restrictions during this extension period. The bank remains under regulatory oversight during this time.

The RBI’s decision reflects its ongoing assessment of the bank’s compliance and financial stability. The extension ensures continued regulatory supervision without altering the directive’s original provisions. The bank’s operations remain constrained by the existing regulatory framework.