DIRECTIONS UNDER SECTION 35A READ WITH SECTION 56 OF THE BANKING REGULATION ACT, 1949 - INDIAN MERCANTILE CO-OPERATIVE BANK LIMITED (IMCBL), LUCKNOW - EXTENSION OF PERIOD

MUMBAI, India, April 24 -- Reserve Bank of India issued the following press release:

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949, to Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow vide Directive DOS.CO.OCCD.185569/12.28.007/2021-22 dated January 28, 2022 for a period of six months upto July 27, 2022, as modified from time to time, which were last extended upto April 27, 2025 vide Directive DOR.MON/D-94/12.28.007/2024-25 dated January 16, 2025. 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 April 27, 2025.

2. Accordingly, the Reserve Bank of India, in...