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.

2. Accordingly, the Reserve Bank of India, in exercise of the 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 on June 27, 2025, to close of business on September 27, 2025, subject to review.

3. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that the Reserve Bank of India is satisfied with the financial position of the bank.

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

(Puneet Pancholy)     
Chief General Manager

Press Release: 2025-2026/594