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RBI extends curbs on Sri Guru Raghavendra Sahakara Bank till May 10, 2027
RBI has extended its Directions on Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, by six months from close of business on November 10, 2026. Depositors stay under the same restrictions, other terms unchanged.
Summary by TaxSavvy. Read the official notice.
Read the official notice (opens RBI press releases in a new tab)In short: FPAC
- Facts
- RBI has extended the Directive issued to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, vide Directive No. DoS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated January 02, 2020, for a further six months from close of business on November 10, 2026 to close of business on May 10, 2027, subject to review.
- Provisions and law
- Sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949.
- Analysis
- All other terms and conditions of the Directive remain unchanged, so existing restrictions on the bank continue for another six months.
- Conclusion
- RBI says the extension should not per-se be construed to imply satisfaction with the bank's financial position.
What to do
- InformationCheck your deposit and loan balances with the bank and keep account statements and deposit receipts ready.
- DiscussionDecide how to manage cash flow that depended on these deposits during the extended restriction period up to May 10, 2027.
Steps follow IDFD: Information, Discussion, Forms, Deliverables.
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See the serviceOfficial source: RBI press releases, “Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru - Extension of Period”. This summary is general information, not advice for your case. The official notice is the final word.