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

The Reserve Bank of India has extended the period of operation of a directive issued to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru under Section 35A of the Banking Regulation Act, 1949, read with Section 56. This directive, issued on January 02, 2020, was initially set to expire on July 10, 2020. However, the Reserve Bank has now decided to further extend it until May 10, 2027, with a review period in between.

The bank's financial position was not a factor in this decision. The extension is for a period of six months from November 10, 2026, to May 10, 2027. The terms and conditions of the directive remain unchanged. This decision was made in the public interest and is in line with the RBI's powers under sub-section (1) of the mentioned sections of the Banking Regulation Act.