Reserve Bank extends its directions on Konark Urban Co-operative Bank, Ulhasnagar, by three months to 23 January 2027

19 October 2026

The Reserve Bank of India extended the directions issued to The Konark Urban Co-operative Bank Ltd., Ulhasnagar, for a further three months. The directions, issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949, will now run from the close of business on 23 October 2026 to the close of business on 23 January 2027. The original directive was issued on 23 April 2024 for six months up to the close of business on 23 October 2024, and had earlier been extended to 23 October 2026 by a directive dated 15 July 2026. The Reserve Bank said the extension is in the public interest and is subject to review, that all other terms of the original directive remain unchanged, and that the extension does not mean it is satisfied with the bank's financial position. The press release is numbered 2026-2027/1353 and is signed by Chief General Manager Brij Raj.