{
  "id": 11131684,
  "title": "Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Innovative Co-operative Urban Bank Limited, New Delhi – Extension of Period",
  "url": "https://urgent.news/2026/10/01/directions-under-section-35a-read-with-section-56-of-the-banking",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T07:14:52.000Z",
  "source": {
    "name": "Reserve Bank of India",
    "slug": "reserve-bank-of-india",
    "url": "https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63707"
  },
  "original_language": "en",
  "account": "The Reserve Bank of India has extended the period of a directive issued to Innovative Co-operative Urban Bank Limited, New Delhi, under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, which was last extended on June 29, 2026, will now run until January 4, 2027, with an additional three-month extension from October 4, 2026 to January 4, 2027. The Reserve Bank of India's decision to further prolong the directive is based on its belief that it is in the public interest to do so. The extension does not, however, indicate that the Reserve Bank of India is satisfied with the bank's financial position. All other terms and conditions outlined in the original directive remain unchanged.",
  "summary": "The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Innovative Co-operative Urban Bank Limited, New Delhi vide Directive No. DEL.DOS.EXG_SSM.No.S143/12-10-005/2025-2026 dated July 03, 2025 for a period of 06 months from close of business on July 04, 2025 up to close of business on January 04, 2026, which was last extended vide…",
  "key_points": [
    "Reserve Bank of India extends directive for Innovative Co-operative Urban Bank Limited.",
    "Extension period from June 29, 2026 to January 4, 2027.",
    "RBI extends for public interest, not financial satisfaction."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}