The Reserve Bank of India has extended the directives issued to Nasik Jilha Mahila Vikas Sahakari Bank Ltd. under Section 35A and Section 56 of the Banking Regulation Act, 1949. The new deadline for compliance is June 9, 2026.
Extension of RBI Directions for Nasik Jilha Mahila Vikas Sahakari Bank
The Reserve Bank of India (RBI) has extended the operational directives issued to Nasik Jilha Mahila Vikas Sahakari Bank Ltd. under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The extension, detailed in Directive No. CO.DOS.SED. No.S6690/12.22.173/2025-2026, extends the period of compliance to the close of business on June 9, 2026.
This decision comes after the RBI assessed ongoing operational concerns at the bank, which stipulated the continuation of its regulatory oversight to protect public interest. The original directive was set for a six-month period starting December 8, 2025.
Practitioners should be aware of such extensions as they reflect the RBI's commitment to ensuring better compliance within cooperative banking frameworks. This may impact the regulatory landscape and operational dynamics for cooperative banks.
Citations
- Reserve Bank of India vs. Nasik Jilha Mahila Vikas Sahakari Bank Ltd. (2025) No. RBL 2026
