The Reserve  Bank of India issued Directions to The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati, Maharashtra under Section 35A read with Section 56 of the Banking  Regulation Act, 1949 vide Directive No.CO.DOS.SED.No.S2698/12-07-005/2022-2023  dated July 27, 2022, for a period of six months up to the close of business on  January 28, 2023, as modified from time to time, which were last extended up to  the close of business on July 28, 2024 vide Directive DOR.MON.D-10/12.22.603/2024-25  dated April 24, 2024.

The Reserve Bank of India today issued a Prompt Corrective Action (PCA) Framework for Primary (Urban) Co-operative Banks (UCBs). The provisions of the PCA Framework will be effective from April 1, 2025. Background The Reserve Bank had issued a Supervisory Action Framework (SAF) as an early intervention tool for bringing about desired improvements in weak UCBs and UCBs which are experiencing financial stress. The SAF was last revised vide RBI Circular dated January 6, 20201 . This PCA framework shall replace the SAF. 

The Reserve Bank of India issued Directions to The Karmala Urban Co-operative Bank Limited, Solapur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.SED.No.S2729/12-07-005/2022-2023 dated July 29, 2022, for a period of six months up to the close of business on January 29, 2023, as modified from time to time which were last extended up to the close of business on July 29, 2024 vide Directive DOR.MON.No.D-08/12.22.130/2023-24 dated April 23, 2024.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Durga Co-operative Urban Bank Ltd., Vijayawada vide Directive No. HYD.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022 for a period of six months up to January 29, 2023 as modified from time to time, which were last extended up to July 29, 2024 vide Directive No. DOR.MON/D-06/12.24.020/2024-25 dated April 18, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of Directive beyond July 29, 2024

The Reserve Bank of India (RBI), vide order dated July 23, 2024, has cancelled the licence of “The Mahabhairab Cooperative Urban Bank Ltd., Tezpur, Assam”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 24, 2024. The Registrar of Cooperative Societies, Assam has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

The Reserve Bank of India, vide directive DOS.CO.OCCD/185569/12.28.007/ 2021-2022 dated January 28, 2022 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the Indian Mercantile Co-operative Bank Ltd., Lucknow (U.P) under Directions from the close of business on January 28, 2022. The validity of these Directions was extended time-to-time, last being up to July 27, 2024.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The National Co-operative Bank Ltd., Bangalore vide Directive No. BLR.DOS.SSMS.No.S836/09-01-112/2023-2024 dated July 24, 2023, for a period of six months up to close of business on January 24, 2024, as modified from time to time which were last extended up to close of business on July 24, 2024 vide Directive DOR.MON/D-05/12-23-112/2024-2025 dated April 18, 2024. 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 July 24, 2024.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Suri Friends' Union Co-operative Bank Limited, Suri (West Bengal) vide Directive No. CO.DOS.SED.No.S-2574/12-07-005/2022-23 dated July 21, 2022 for a period of six months up to January 22, 2023 as modified from time to time, which were last extended up to July 22, 2024 vide Directive No. DOR.MON.D-07/12.29.046/ 2024-25 dated April 18, 2024.

The Reserve Bank of India (RBI), vide order dated July 19, 2024, has cancelled the licence of Uravakonda Co-operative Town Bank Ltd., Uravakonda (Anantapur District), Andhra Pradesh. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 20, 2024. The Commissioner for Cooperation and Registrar of Cooperative Societies, Andhra Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

The Reserve Bank of India issued Directions to Saibaba Janata Sahakari Bank Limited, Latur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.SED.No.S2598/12-07-005/2022-2023 dated July 21, 2022, for a period of six months up to the close of business on January 22, 2023, as modified from time to time, which was last extended up to the close of business on July 22, 2024 vide Directive DOR.MON.D-03/12.22.705/2024-25 dated April 15, 2024