RBI Grants Critical Three-Month Extension to Nasik Jilha Mahila Vikas Sahakari Bank Ltd. Following Banking Regulation Directive
Reserve Bank of India Extends Key Compliance Deadline for Regional Cooperative Bank
The Reserve Bank of India (RBI) has officially extended a critical operating deadline for Nasik Jilha Mahila Vikas Sahakari Bank Ltd., Nasik. This extension relates to compliance requirements outlined under Section 35A read with Section 56 of the Banking Regulation Act, 1949.The RBI issued the initial Directive through Directive No. CO.DOS.SED. No.S6690/12.22.173/2025-2026 on December 08, 2025. This initial directive stipulated a completion period of six months for the bank.
Extending Operational Period Beyond June 2026
Recognizing the public interest involved, the Reserve Bank of India has deemed it necessary to extend the operational period further. The decision comes in response to the ongoing compliance monitoring processes specific to the cooperative banking sector.The RBI formally extended the Directive for an additional three months. This extension shifts the final deadline from June 09, 2026, to September 09, 2026.
Terms and Conditions of the Extended Directive
The extension is granted in exercise of the powers vested under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The core operational terms and conditions established by the original RBI directive remain completely unchanged.It is explicitly stated that this administrative extension by the Reserve Bank of India should not be construed to imply satisfaction with the current financial position of Nasik Jilha Mahila Vikas Sahakari Bank Ltd.
Focus Remains on Compliance and Review
The extended timeline allows the bank additional time to address the stipulations set forth in the original directive. The RBI has confirmed that this action is taken wholly in the public interest, as noted in the official press release dated June 05, 2026.The continued monitoring and oversight of the bank’s compliance status remains paramount throughout the extended period. Nasik Jilha Mahila Vikas Sahakari Bank Ltd. must ensure adherence to all provisions under the Banking Regulation Act, 1949.
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