Extension of validity of Directions under Section 35A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – National Mercantile Co-operative Bank Ltd., Lucknow (U.P.)

The Reserve Bank of India extended the Directions placed on the National Mercantile Co-operative Bank Ltd., Lucknow (U.P) from March 10, 2023, to September 10, 2024. The extension, issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), was communicated through Directive DOR.MON.No.D-21/12-28-015/2024-2025 dated June 05, 2024. \r

All terms and conditions of the Directions remain unchanged. The RBI emphasized that this extension does not imply satisfaction with the bank's financial position. The Directive is displayed at the bank's premises for members and the public's perusal.