DIRECTIONS UNDER SECTION 35A READ WITH SECTION 56 OF THE BANKING REGULATION ACT, 1949 - INNOVATIVE CO-OPERATIVE URBAN BANK LIMITED, DELHI - EXTENSION OF PERIOD

MUMBAI, India, Dec. 31 -- 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 Innovative Co-operative Urban Bank Limited, 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 up to close of business on January 04, 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 January 04, 2026.

2. Accordingly, the Reserve Bank of India, in the exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Ba...