Economy
RBI Extends Konark Urban Co-operative Bank Directions Through January 2027
The RBI extended its directions for Konark Urban Co-operative Bank by three months, through January 23, 2027, subject to review.
What happened
The Reserve Bank of India extended its directions against The Konark Urban Co-operative Bank Ltd., Ulhasnagar, from the close of business on October 23, 2026, to January 23, 2027. The extension is subject to review, while all other terms and conditions remain unchanged. The RBI said the extension should not be read as approval of the bank’s financial position.
Why it matters
The directive remains in force for another three months, but the RBI has expressly said the extension does not indicate satisfaction with the bank’s financial position.
Source: RBI