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RBI extends supersession of Abhyudaya Co-op Bank board by one more year
RBI has extended the supersession of Abhyudaya Co-operative Bank's Board for one year from November 24, 2026. The Administrator and Committee of Advisors continue to run the bank.
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 period of supersession of the Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai for a further one year, effective from November 24, 2026, with Shri Satya Prakash Pathak continuing as Administrator assisted by the Committee of Advisors comprising Shri Venkatesh Hegde, Shri Devendra Kumar and Shri Suhas Gokhale.
- Provisions and law
- Sub-Section (1) of Section 36AAA read with Section 56 of the Banking Regulation Act, 1949.
- Analysis
- The bank's Board stays superseded beyond the close of business on November 23, 2026, so management continues under the RBI appointed Administrator rather than an elected Board, following the original supersession on November 24, 2023 for poor governance standards.
- Conclusion
- Depositors and members of Abhyudaya Co-operative Bank should note that RBI administered management continues for another year.
What to do
- InformationCheck your deposit balances and maturity dates with Abhyudaya Co-operative Bank and keep statements handy.
- DiscussionDecide whether to keep concentrated deposits in the bank or spread them across other banks.
Steps follow IDFD: Information, Discussion, Forms, Deliverables.
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See the serviceOfficial source: RBI press releases, “Supersession of Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai - Extension of period”. This summary is general information, not advice for your case. The official notice is the final word.