{
  "id": 15601250,
  "title": "Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Konark Urban Co-operative Bank Ltd., Ulhasnagar – Extension of Period",
  "url": "https://urgent.news/2026/10/19/directions-under-section-35a-read-with-section-56-of-the-banking",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T12:16:32.000Z",
  "source": {
    "name": "Reserve Bank of India",
    "slug": "reserve-bank-of-india",
    "url": "https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63831"
  },
  "original_language": "en",
  "account": "The Reserve Bank of India has extended the period of a directive for The Konark Urban Co-operative Bank Ltd. in Ulhasnagar, as per Section 35A read with Section 56 of the Banking Regulation Act, 1949. Directive No. CO.DOS.SED.No.S592/45-11-001/2024-25 was initially issued on April 23, 2024, and was last extended to October 23, 2026. The Reserve Bank of India has now further extended it for three more months, until January 23, 2027. This decision was made in the public interest and does not indicate satisfaction with the bank's financial position. The other terms and conditions of the 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 The Konark Urban Co-operative Bank Ltd., Ulhasnagar vide Directive No. CO.DOS.SED.No.S592/45-11-001/2024-25 dated April 23, 2024 for a period of six months up to close of business on October 23, 2024, which was last extended up to close of business on October 23, 2026 vide…",
  "key_points": [
    "Reserve Bank of India extends directive for Konark Urban Co-operative Bank.",
    "Directive No. CO.DOS.SED.No.S592/45-11-001/2024-25 extended to January 23, 2027.",
    "Extension made for public interest, not bank's financial position."
  ],
  "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."
}