The Governor, Reserve Bank of India today held a meeting with the Chairmen, Managing Director & Chief Executive Officers of select Urban Cooperative Banks (UCBs) across all Tiers operating in different parts of the country. The representatives from industry bodies viz., National Urban Cooperative Finance and Development Corporation Limited (NUCFDC) and National Federation of Urban Co-operative Banks & Credit Societies Limited (NAFCUB) also participated in the meeting. The meeting was a part of the Reserve Bank's series of engagement with its Regulated Entities.

The Reserve Bank of India, vide directive CO.DOS.SED.No.S1918/12-22-283/2023-24 dated June 13, 2023, had placed Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi under Directions for a period of six months up to the close of business on December 14, 2023. The validity of the directions was extended from time-to-time, the last being up to close of business on March 14, 2025.

The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Jawahar Sahakari Bank Ltd., Hupri with Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd. The Scheme has been sanctioned in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from March 10, 2025 (Monday). All the branches of Jawahar Sahakari Bank Ltd., Hupri, will function as branches of Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd., with effect from March 10, 2025.

The Reserve Bank of India, vide directive CDG.DOS.RSG.No.S1645/16-03-046/2022-2023 dated March 09, 2023, had placed Imperial Urban Co-operative Bank Ltd, Jalandhar – under Directions from the close of business on March 10, 2023, for a period of six months up to September 10, 2023, the validity of which was last extended up to close of business on March 10, 2025 vide directive DOR.MON/D-79/12.28.319/2024-25 dated December 05, 2024. 

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Bank Regulation Act, 1949 to The Karwar Urban Co-operative Bank Ltd., Karwar vide Directive No. CO.DOS.SED.No.S1932/12-23-065/2024-2025 dated June 12, 2024, for a period of six months up to close of business on December 12, 2024, as modified from time to time, which were last extended up to close of business on March 12, 2025 vide Directive DOR.MON/D-83/12-23-065/2024-2025 dated December 06, 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 March 12, 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 March 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 March 10, 2025 vide Directive DOR.MON/D-81/12-28-015/2024-2025 dated December 05, 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 March 10, 2025.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Bank 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 March 12, 2025 vide Directive No. DOR.MON/D-80/12.23.001/2024-2025 dated December 05, 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 March 12, 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 March 09, 2025 vide Directive DOR.MON/D-77/12.27.215/2024-25 dated December 02, 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 March 09, 2025.

The Reserve Bank of India had issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Ajantha Urban Co-operative Bank Maryadit, Aurangabad, Maharashtra vide Directive No. NGP.DoS.SSM 3.No.S675/15.03.302/2023-2024 dated August 28, 2023, for a period of six months up to the close of business on February 29, 2024, as modified from time to time, which were last extended up to the close of business on February 28, 2025 vide Directive DOR.MON.D-75/12-22-740/2024-25 dated November 26, 2024.