Regulating Co-operative Banking

Reserve Bank has taken the following measures with a view to mitigate the impact of trade disruptions on exports arising on account of global headwinds. A. FEMA Regulation on realization and repatriation of proceeds of export of goods/ software/ services and advance payment against exports (Hyperlink) i) Extension in the time period for realisation and repatriation of full export value of goods/software/services exported from India from nine months to fifteen months from the date of export from India; ii) Increase in the time period for shipment of goods from one year to three years from the date of receipt of advance payment or as per agreement, whichever is later. B. Reserve Bank of India (Trade Relief Measures) Directions, 2025 (Hyperlink)

Reserve Bank of India had on July 30, 2025, imposed All Inclusive Directions (AID) on Irinjalakuda Town Co-operative Bank Ltd. The Reserve Bank subsequently superseded the bank’s Board for a period of 12 months and appointed an Administrator and a Committee of Advisors (CoA) as announced vide Press Release dated October 07, 2025.

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. NGP.DOS.SSM3.No.S611/5-04-166/2025-26 dated November 06, 2025, has issued certain Directions to The Pusad Urban Cooperative Bank Ltd., Pusad (“the bank”) whereby, as from the close of business on November 07, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka vide Directive No. DOS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated January 02, 2020, for a period of six months up to close of business on July 10, 2020. 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 November 10, 2025.

The Reserve Bank of India, in exercise of its powers under section 36AAA read with section 56 of the Banking Regulation Act, 1949, had superseded the Board of Directors of Abhyudaya Cooperative Bank Ltd., Mumbai (the bank) for one year on November 24, 2023 [Hyperlink to the previous press release dated November 24, 2023], due to material concerns arising from poor governance standards observed within the bank. The period of supersession was extended for a further period of one year, effective November 24, 2024 [Hyperlink to the press release dated November 18, 2024].

Analysis of the performance under the Citizen’s Charter during the month of October 2025 has been carried out, and the summary thereof is given below –

In terms of para 7(b) of the captioned Directions dated July 29, 2025, it has been stipulated that the Reserve Bank may, in consultation with the Government of India, by a notification, exempt certain Alternative Investment Funds (AIFs) from the scope of the above Directions (except for paragraph 5 – “General Requirement”), and the previous circulars dated December 19, 2023 and March 27, 2024 issued on the matter.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949, to Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow vide Directive DOS.CO.OCCD.185569/12.28.007/2021-22 dated January 28, 2022 for a period of six months upto July 27, 2022, as modified from time to time, which were last extended upto October 27, 2025 vide Directive DOR.MON.No.D-22/12.28.007/2025-26 dated July 17, 2025. The Reserve Bank of India is satisfied that in public interest, it is necessary to further extend the period of operation of the Directive beyond October 27, 2025.

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 Ltd., Suri, West Bengal vide Directive No. CO.DOS.SED.No.S2574/12-07-005/2022-23 dated July 21, 2022 for a period of six months up to close of business on January 22, 2023 as modified from time to time, which were last extended up to close of business on October 22, 2025 vide Directive DOR.MON.D-21/12.29.046/2025-26 dated July 17, 2025. 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 October 22, 2025.

The Reserve Bank of India, vide directive CO.DOS.SED.No.S592/45-11-001/2024-25 dated April 23, 2024, had placed the Konark Urban Co-operative Bank Ltd., Ulhasnagar, under Directions from the close of business on April 23, 2024, for a period of six months. The validity of the directions was extended from time-to-time, the last being up to October 23, 2025.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Pune Sahakari Bank Ltd., Shivajinagar, Pune vide Directive No. CO.DOS.SED.No.S8240/12-22-493/2022-2023 dated March 09, 2023, for a period of six months. The same were modified from time to time and were last extended up to close of business on December 10, 2025.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to National Urban Co-operative Bank Ltd., Pratapgarh, vide Directive CO.DOS.SED.No.S369/45-11-001/2024-25 dated April 15, 2024, for a period of six months up to close of business on October 15, 2024, which was last extended up to close of business on October 15, 2025, vide Directive DOR.MON/D-19/12.28.017/2025-26 dated July 08, 2025. 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 the close of business on October 15, 2025.

The Reserve Bank of India vide directive CO.DOS.SED. No. S370/45-11-001/2024-2025 dated April 15, 2024, had placed Sarvodaya Co-operative Bank Ltd., Mumbai under Directions for a period of six months up to the close of business on October 15, 2024, which was modified from time to time and was last extended up to close of business on October 15, 2025.

The Reserve Bank has constantly endeavoured to optimise its regulatory framework with a focus inter alia on reducing the regulatory burden and compliance costs, apart from timely re-evaluation of the currency of existing instructions. Pursuant to the above, the Reserve Bank has undertaken a comprehensive exercise of consolidating the regulatory instructions currently administered by the Department of Regulation, on ‘as is’ basis. The existing universe of regulatory instructions issued up to October 9, 2025 have been consolidated into 238 Master Directions, across 11 types of regulated entities on up to 30 functions / areas. Consequently, approximately 9000 circulars (including Master Circulars / Master Directions) administered by the Department of Regulation will be repealed.

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. SML.DCBS.CRRB.No.S79/02-31-005/2025-2026 dated October 06, 2025, has issued certain Directions to The Baghat Urban Co-operative Bank Ltd., Solan, whereby, as from the close of business on October 08, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated October 06, 2025, a copy of which has been directed to be displayed on the bank's website / premises for perusal by interested members of the public. Considering the bank's current liquidity position, the bank has been directed to permit withdrawal of a sum not exceeding ₹10,000/- (Rupees Ten Thousand only) of the total balance held in savings bank or current accounts or any other account of a depositor but is allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions. The bank may incur expenditure in respect of certain essential items such as salaries of employees, rent, electricity bills, etc., as specified in the said Directions.

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. BPL.DOS.SED.No.S1638/12-07-054/2025-2026 dated October 06, 2025, has issued certain Directions to

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. NGP.DOS.SSM 2.No.S580/15-03-614/2025-2026 dated October 06, 2025, has issued certain Directions to Samarth Sahakari Bank Ltd., Solapur (“the bank”), whereby, as from the close of business on October 07, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated October 06, 2025, a copy of which has been directed to be displayed on the bank's website / premises for perusal by interested members of the public. Considering the bank's current liquidity position, the bank has been directed not to allow withdrawal of any amount from savings bank or current accounts or any other account of a depositor but is allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions. The bank may incur expenditure in respect of certain essential items such as salaries of employees, rent, electricity bills, etc., as specified in the said Directions.

The Reserve Bank of India had issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Shirpur Merchants’ Co-operative Bank Ltd., Shirpur, Maharashtra, vide Directive No. CO.DOS.SED. No. S175/45-11-001/ 2024-2025 dated April 05, 2024, for a period of six months up to the close of business on October 08, 2024, as modified from time to time, which were last extended up to the close of business on October 08, 2025, vide Directive DOR.MON.D-17/12-21-364/2025-26 dated July 04, 2025.

The Reserve Bank of India (RBI), vide order dated October 06, 2025, has cancelled the licence of “Jijamata Mahila Sahakari Bank Ltd., Satara, Maharashtra.” The banking licence of the bank was earlier cancelled vide order dated June 30, 2016 and was restored on October 23, 2019 on an appeal

In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated December 08, 2023, the Reserve Bank of India (RBI) has today issued the draft regulatory framework, for public comments, on lending to related parties by various regulated entities (REs), as enumerated below: i. Reserve Bank of India (Commercial Banks – Lending to Related Parties) Directions, 2025 ii. Reserve Bank of India (Small Finance Banks – Lending to Related Parties) Directions, 2025 iii. Reserve Bank of India (Regional Rural Banks – Lending to Related Parties) Directions, 2025 iv. Reserve Bank of India (Local Area Banks – Lending to Related Parties) Directions, 2025 v. Reserve Bank of India (Urban Co-operative Banks – Lending to Related Parties) Directions, 2025

Analysis of the performance under the Citizen’s Charter during the month of September 2025 has been carried out and the summary thereof is given below –

Reserve Bank of India (RBI) has today issued Reserve Bank of India (Investments in Non-SLR instruments by State / Central Co-operative Banks) Directions, 2025.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak vide Directive No. CO.DOS.SED.No.S4800/12-23-151/2024-2025 dated September 26, 2024, for a period of six months up to close of business on March 27, 2025 as modified from time to time, which were extended upto June 27, 2025 vide Directive No. DOR.MON/D-110/12.23.151/2024-25 dated March 25, 2025 and further extended upto September 27, 2025 vide Directive No. DOR.MON/D-16/12.23.151/2025-26 dated June 24, 2025. 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 September 27, 2025.

The Reserve Bank of India, vide directive CO.DOS.SED.No.S8240/12-22-493/2022-2023 dated March 09, 2023, had placed Pune Sahakari Bank Ltd., Shivajinagar, Pune, Maharashtra under Directions from the close of business on March 10, 2023, for a period of six months. The validity of the directions was extended from time-to-time, the last being up to close of business on September 10, 2025.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to National Mercantile Co-operative Bank Ltd., Lucknow vide Directive No. LKO.DOS.SED.No.S875/10-03-759/2022-2023 dated March 09, 2023, for a period of six months up to close of business on September 10, 2023, as modified from time to time, which were last extended up to close of business on September 10, 2025 vide Directive DOR.MON/D-12/12-28-015/2025-2026 dated May 30, 2025. 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 September 10, 2025

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan vide Directive DCBS.CO.BSD-I/D-2/12.27.215/2018-19 dated October 26, 2018, for a period of six months up to May 09, 2019 as modified from time to time, which were last extended up to September 09, 2025 vide Directive DOR.MON/D-11/12.27.215/2025-26 dated May 29, 2025. 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 September 09, 2025.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Amanath Co-operative Bank Ltd., Bangalore vide Directive No. CO.DOS.SED.No.S1931/12.23.001/2024-2025 dated June 12, 2024 for a period of six months upto December 12, 2024, as modified from time to time, which were last extended upto September 12, 2025 vide Directive No. DOR.MON/D-14/12.23.001/2025-26 dated June 03, 2025. 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 September 12, 2025.

A comprehensive review of the various services offered by Reserve Bank of India under Citizens’ Charter and Regulatory Approvals was undertaken and the revised Citizen’s Charter was released on July 1, 2025. 2. An analysis of the performance under

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka vide Directive No. DOS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated January 02, 2020, for a period of six months up to July 10, 2020, as modified from time to time, which were last extended up to the close of business on August 10, 2025 vide Directive No. DOR.MON/D-08/12.23.283/2025-26 dated May 6, 2025. 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 August 10, 2025.

The Reserve Bank of India, in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949, has sanctioned the Scheme of Amalgamation of New India Co-operative Bank Ltd., Mumbai with Saraswat Co-operative Bank Ltd., Mumbai. The Scheme will come into force with effect from August 04, 2025 (Monday). All the branches of New India Co-operative Bank Ltd., Mumbai will function as branches of Saraswat Co-operative Bank Ltd., Mumbai with effect from August 04, 2025.

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. NGP.DOS.SSM 3.No.S403/15-04-395/2025-2026 dated July 29, 2025, has issued certain Directions to Sonpeth Nagari Sahakari Bank Maryadit, Sonpeth , (“the bank”), whereby, as from the close of business on July 30, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. BLR.DOS.SSMS.No.S628/09-01-242/2025-2026 dated July 29, 2025, has issued certain Directions to Lokapavani Mahila Sahakari Bank Niyamitha, Mandya (“the bank”), whereby, as from the close of business on July 30, 2025, the bank shall not, without prior approval of RBI

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. CO.DOS.DSD.No.D-01/12-22-350/2025-2026 dated July 29, 2025, has issued certain Directions to Irinjalakuda Town Co-operative Bank Ltd (“the bank”), whereby, as from the close of business on July 30, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loan or advance, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or

The Reserve Bank has released the draft Master Direction on Business Authorization for Co-operative Banks. The comments on the draft Directions are invited from public/stakeholders till August 25, 2025. Comments/feedback may be submitted through the respective link under the ‘Connect 2 Regulate’ Section available on the RBI’s website or may alternatively be forwarded to:

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949, to Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow vide Directive DOS.CO.OCCD.185569/12.28.007/2021-22 dated January 28, 2022 for a period of six months upto July 27, 2022, as modified from time to time, which were last extended upto July 27, 2025 vide Directive DOR.MON/D-05/12.28.007/2025-26 dated April 16, 2025. 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 July 27, 2025.

The Reserve Bank of India (RBI), vide order dated July 22, 2025, has cancelled the licence of “The Karwar Urban Co-operative Bank Ltd., Karwar”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 23, 2025. The Registrar of Cooperative Societies, Karnataka 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 CO.DOS.SED.No.S592/45-11-001/2024-25 dated April 23, 2024, had placed the Konark Urban Co-operative Bank Ltd., Ulhasnagar, under Directions from the close of business on April 23, 2024, for a period of six months. The validity of the directions was extended from time-to-time, the last being up to July 23, 2025.

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 Ltd., Suri, West Bengal vide Directive No. CO.DOS.SED.No.S2574/12-07-005/2022-23 dated July 21, 2022 for a period of six months up to close of business on January 22, 2023

The Reserve Bank has released the draft Master Direction on ‘Digital Banking Channels Authorisation’. The comments on the draft Directions are invited from public/stakeholders till August 11, 2025. Comments/feedback may be submitted through the respective link under the ‘Connect 2 Regulate’ Section available on the RBI’s website or may alternatively be forwarded to:

The Reserve Bank of India vide directive CO.DOS.SED. No. S370/45-11-001/2024-2025 dated April 15, 2024, had placed Sarvodaya Co-operative Bank Ltd., Mumbai under Directions for a period of six months up to the close of business on October 15, 2024, which was modified from time to time and was last extended up to close of business on July 15, 2025.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to National Urban Co-operative Bank Ltd., Pratapgarh, vide Directive CO.DOS.SED.No.S369/45-11-001/2024-25 dated April 15, 2024, for a period of six months up to close of business on October 15, 2024, which was last extended up to close of business on July 15, 2025

The Reserve Bank of India had issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Shirpur Merchants’ Co-operative Bank Ltd., Shirpur, Maharashtra, vide Directive No. CO.DOS.SED. No. S175/45-11-001/2024-2025 dated April 05, 2024, for a period of six months up to the close of business on October 08, 2024, as modified from time to time, which were last extended up to the close of business on July 08,2025 vide Directive DOR.MON.D-02/12-21-364/2025-26 dated April 04, 2025.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Ramgarhia Co-operative Bank Limited, New Delhi vide Directive No. DEL.DOS.EXG_SSM.No.S515/12-10-013/2022-2023 dated July 07, 2022 for a period of 06 months up to close of business on January 08, 2023, which was last extended vide Directive No. DOR.MON.D-01/12.28.115/2025-26 dated April 04, 2025. 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 08, 2025.

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. DEL.DOS.EXG_SSM.No.S143/12-10-005/2025-2026 dated July 03, 2025, has issued certain Directions to Innovative Co-operative Urban Bank Ltd., Delhi (“the bank”), whereby, as from the close of business on July 04, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits,

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. GWH.DOS.ADM.No.S103/01-10-101/2025-2026 dated July 03, 2025, has issued certain Directions to The Industrial Co-operative Bank Ltd., Guwahati (“the bank”), whereby, as from the close of business on July 04, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. CO.DOS.SED.No.S2770/12-22-023/2025-2026 dated July 03, 2025, has issued certain Directions to The Bhavani Sahakari Bank Ltd., Mumbai (“the bank”), whereby, as from the close of business on July 04, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated July 03, 2025, a copy of which has been directed to be displayed on the bank's website / premises for perusal by interested members of the public. Considering the bank's current liquidity position

The various services offered by Reserve Bank of India (RBI) to the entities regulated by it and to the citizens of the country were listed under two distinct heads viz. Timelines for Regulatory Approvals and Citizens’ Charter. Under Regulatory Approvals 133 services were made available, while the Citizens’ Charter had 58 services. A comprehensive review of the services offered by RBI has been undertaken and the timelines have been rationalised leading to reduction of time in 11 services. All services to the regulated entities and to the citizens have been subsumed under the Citizen’s Charter. The Citizen’s Charter now contains 204 services.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak vide Directive No. CO.DOS.SED.No.S4800/12-23-151/2024-2025 dated September 26, 2024, for a period of six months up to close of business on March 27, 2025 as modified from time to time, which were last extended upto June 27, 2025 vide Directive No. DOR.MON/D-110/12.23.151/2024-25 dated March 25, 2025. 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 June 27, 2025.

The Reserve Bank had issued draft guidelines on ‘Prudential Framework for Income Recognition, Asset Classification and Provisioning pertaining to Advances - Projects Under Implementation’ on May 03, 2024, for stakeholder comments. The draft guidelines proposed an enabling framework for the regulated entities (REs) for financing project loans, while addressing the underlying risks.