RBI extends Abhyudaya Co-operative Bank board supersession for another year

The Reserve Bank of India has extended the supersession of the Board of Directors of Mumbai-based Abhyudaya Co-operative Bank Ltd. for another year, maintaining strong regulatory oversight and institutional stability in the public interest.

The latest extension, announced by the central bank, takes effect from 24 November 2026 following a review of the bank's operations. The central bank confirmed that Administrator Satya Prakash Pathak will remain at the helm of the institution, assisted by a three-member Committee of Advisors.

Timeline of RBI oversight

The central bank originally intervened on 24 November 2023, replacing the lender's board after identifying material concerns over internal governance standards. Exercising powers under Section 36AAA read with Section 56 of the Banking Regulation Act, 1949, the regulator placed the bank under direct administrative control to safeguard depositor interests and restore robust operational standards.

The progression of regulatory extensions reflects the central bank's structured approach to securing stability within the urban co-operative banking sector:

Management structure and leadership team

Under the extended period of supersession, the bank's administration will continue without disruption. Satya Prakash Pathak will guide operational management alongside the existing Committee of Advisors, which comprises Venkatesh Hegde, Devendra Kumar, and Suhas Gokhale.

The central bank stated in its official notice that continuing the administrative framework past 23 November 2026 remains essential to protect public interest and ensure sustained confidence in the institution.