Another Extension! RBI Prolongs Regulatory Curbs on National Mercantile Co-operative Bank

The Reserve Bank of India (RBI) has extended the operational restrictions on National Mercantile Cooperative Bank Ltd., Lucknow, under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, initially imposed in March 2023, has now been extended until March 10, 2025, ensuring continued regulatory oversight.

 

Key Highlights:

This move underscores the RBI’s commitment to financial stability, ensuring that cooperative banking institutions adhere to regulatory norms.

 

Sources: Reserve Bank of India, CNBC TV18.