RBI extends directions on Suri Friends' Union Co-operative Bank till January 2027
RBI has extended its directions on The Suri Friends' Union Co-operative Bank Ltd., Suri, West Bengal, by three months, up to close of business on 22 January 2027.
The Reserve Bank of India (RBI) has extended its directions on The Suri Friends' Union Co-operative Bank Ltd., Suri, West Bengal, for a further three months. In a press release dated 22 October 2026, RBI said the directions will now remain in force up to close of business on 22 January 2027, subject to review.
What Happened
RBI first issued the directions to the bank on 21 July 2022 under Section 35A read with Section 56 of the Banking Regulation Act, 1949. Section 35A allows RBI to give binding directions to a bank in the public interest. The directions were originally for six months, up to close of business on 22 January 2023.
They have since been extended several times. The last extension, through a directive dated 14 July 2026, kept them in force up to close of business on 22 October 2026.
RBI said it is satisfied that, in the public interest, the directions need to continue beyond that date. It has therefore extended them from close of business on 22 October 2026 to close of business on 22 January 2027, subject to review.
RBI said the other terms and conditions of the original directive remain unchanged. It also said the extension or any modification should not, by itself, be read to mean that RBI is satisfied with the financial position of the bank.
What It Means
For depositors and borrowers of the bank, the position stays as it was. The terms that have applied under the directive continue for at least three more months, and RBI has said it will review them. The release does not announce any change to those terms.
The directions have now been in place for more than four years. RBI's statement that the extension is not a sign of satisfaction with the bank's finances means customers should not treat it as a clean bill of health.
Customers who want to know exactly what the directive allows should check with the bank directly and refer to the directive notice. A customer with a complaint about a regulated bank's service can approach RBI through its Complaint Management System at https://cms.rbi.org.in.
RBI said the directions are subject to review, so further changes, if any, will come through a fresh RBI notice.
Source: RBI press release
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Sources & Citations
- RBI press release — Reserve Bank of India