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.