RBI Extends Abhyudaya Bank Board Supersession One-Year

Document title: Supersession of Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai - Extension of period

Issuing authority: Reserve Bank of India

Reference number: Press Release: 2026-2027/1473

Date: 09 November 2026

Banking and Credit

The Reserve Bank of India (RBI) initially superseded the Board of Directors of Abhyudaya Co-operative Bank Ltd. on 24 November 2023 under Section 36AAA read with Section 56 of the Banking Regulation Act, 1949, citing material concerns arising from poor governance standards. The supersession was first extended for one year effective 24 November 2024 and subsequently extended again for another year effective 24 November 2025.

Regulatory and Policy Measures

After a review, the RBI determined that it is in the public interest to further extend the supersession beyond the close of business of the bank as on 23 November 2026. Accordingly, the RBI exercised its powers under sub‑Section (1) of Section 36AAA read with Section 56 of the Banking Regulation Act, 1949, to extend the period of supersession for a further one‑year, effective from 24 November 2026. Shri Satya Prakash Pathak will continue as the Administrator of the bank and will be assisted by the existing Committee of Advisors comprising Shri Venkatesh Hegde, Shri Devendra Kumar and Shri Suhas Gokhale. The press release is signed by the Chief General Manager, Brij Raj.

The RBI’s actions reflect its continued oversight to ensure sound governance and stability within cooperative banking institutions. This extension underscores the regulator’s commitment to safeguarding depositor interests and maintaining confidence in the banking sector.