RBI extends restrictions on Sri Guru Raghavendra Sahakara Bank, Bengaluru, for six months to 10 May 2027
TaxByKK · Compliance News · taxbykk.com6 Nov 2026
In short
RBI has extended, for a further six months from the close of business on 10 November 2026 to the close of business on 10 May 2027, the directions it placed on Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru under section 35A read with section 56 of the Banking Regulation Act, 1949. The extension is subject to review, and all other terms of the directive stay unchanged.
- Authority
- Reserve Bank of India
- Press release
- 2026-2027/1460, issued 6 November 2026
- Type
- Press release
- Bank
- Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru
- New end date
- Close of business on 10 May 2027, subject to review
- Law
- Banking Regulation Act, 1949, section 35A read with section 56
- Directive
- No. DoS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated 2 January 2020
What changed
| Item | Before | Now |
|---|---|---|
| Sri Guru Raghavendra Sahakara Bank: directive period | Till close of business on 10 November 2026 | Till close of business on 10 May 2027 |
The directive (No. DoS.CO.UCB.BSD-III.D-2/12.23.283/2019-20) was issued on 2 January 2020 for six months up to 10 July 2020. The press release does not set out its later extensions; it says only that RBI now extends it beyond the close of business on 10 November 2026. RBI says the extension should not by itself be read as meaning it is satisfied with the bank's financial position. The press release does not repeat what the directive restricts, such as withdrawal limits or new loans. For those, read the bank's own notice or the original directive.
Who it applies to
- Depositors and borrowers of Sri Guru Raghavendra Sahakara Bank
- Members and directors of the bank
- CAs and advisers whose clients bank with it
What to do
- Depositors: check the bank's own notice for the limits that currently apply, and plan cash needs until the new end date.
- Borrowers and account holders: keep servicing loans on the usual terms unless the bank tells you otherwise.
- Directors and managers: continue to comply with the directive and with RBI's review.
Reference
RBI press release 2026-2027/1460 (6 November 2026), Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru - Extension of Period.
Read the official PDF: Sri Guru Raghavendra Sahakara BankWritten by TaxByKK from the official notification. Check the official text before you act on it.
Frequently asked questions
Until when has RBI extended the directions on Sri Guru Raghavendra Sahakara Bank?
Until the close of business on 10 May 2027, subject to review.
Does the extension mean the bank is in worse shape?
RBI says the extension should not by itself be read as meaning it is satisfied with the bank's financial position, and it says nothing more on the point.
What are the limits on withdrawals?
The press release does not state them. Check the bank's own notice or the original directive.