India, July 8 -- The Reserve Bank of India (RBI) has extended the regulatory restrictions imposed on The Shirpur Merchants' Co-operative Bank Ltd., Shirpur, Maharashtra, for an additional three months. The restrictions, originally imposed under Section 35A read with Section 56 of the Banking Regulation Act, 1949, were scheduled to expire at the close of business on July 8, 2025. They will now remain in force until the close of business on October 8, 2025, subject to further review.
The RBI had first issued the directive on April 5, 2024, for a period of six months, and it has been extended periodically since. The last extension was granted on April 4, 2025.
In a statement, the central bank clarified that the extension has been made in the...