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 No. 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, 2024 vide Directive DOR.MON/D-47/12.27.215/2024-25  dated August 29, 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 December 09, 2024.

2. Accordingly, the Reserve Bank of India, in the exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business of December 09, 2024 to close on business of March 09, 2025, subject to review.

3. All other terms and conditions of the Directive under reference shall remain unchanged.

(Puneet Pancholy)     
Chief General Manager

Press Release: 2024-2025/1639