The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Gujarat Rajya Karmachari Co-op. Bank Ltd., Ahmedabad, vide Directive No. AMD.DOS.SSM.No.S1057/11-04-083/2025-2026 dated March 11, 2026 for a period of six months up to close of business on September 11, 2026. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on September 11, 2026. 2. Accordingly, the Reserve Bank of India, in the exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business on September 11, 2026, to close of business on December 11, 2026, subject to review. 3. The aforesaid extension and/or modification by the Reserve Bank of India should not per se be construed to imply that the Reserve Bank of India is satisfied with the financial position of the bank. 4. All other terms and conditions of the Directive under reference, shall remain unchanged. (Brij Raj)
Chief General Manager Press Release: 2026-2027/1098 | |