The RBI has extended directions under the Banking Regulation Act for Ramgarhia Co-operative Bank, indicating an ongoing regulatory oversight.
Extension of Regulatory Directions for Ramgarhia Co-operative Bank
The Reserve Bank of India has extended its directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 for Ramgarhia Co-operative Bank Limited, New Delhi. Initially issued on July 08, 2022, these directions were set to expire on January 08, 2023, but have been subject to successive extensions, with the latest being communicated via Directive No. DOR.MON.D-03/12.28.115/2026-27 dated April 01, 2026.
This extension reflects the RBI's ongoing concerns regarding the bank's compliance and operational soundness. Such actions ensure that banks operate within the confines of financial regulation, contributing to the stability of the banking sector.
For legal practitioners, this reinforces the importance of compliance for cooperative banks, indicating that the RBI will not hesitate to enforce regulatory measures to uphold financial integrity. Banks should take these extensions seriously and work towards rectifying any issues identified by the regulatory authority.
Citations
- RBI Directive (2026)