On November 07, 2025, the Reserve Bank of India (RBI) issued a press release regarding the extension of the supersession of the Board of Directors of Abhyudaya Cooperative Bank Ltd., Mumbai. The RBI, in exercise of its powers under section 36AAA read with section 56 of the Banking Regulation Act, 1949, had initially superseded the Board for one year, effective November 24, 2023, due to material concerns arising from poor governance standards. The period of supersession was extended for a further period of one year, effective November 24, 2024. The RBI has decided to further extend the period of supersession beyond November 23, 2025. Accordingly, the period of supersession has been extended for a further period of one year, effective from November 24, 2025. Shri Satya Prakash Pathak will continue as the Administrator, assisted by the Committee of Advisors comprising Shri Venkatesh Hegde, Shri Devendra Kumar, and Shri Suhas Gokhale. The press release number is 2025-2026/1462. Brij Raj, Chief General Manager, is the contact person. The RBI website is www.rbi.org.in, and the email is helpdoc@rbi.org.in. The phone number is 022 - 2266 0502. The address is Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001.
Key Entities Referenced
Banking Regulation Act, 1949: Governs banking companies in India.
Reserve Bank of India: Central Bank exercising powers to supersede board of directors.
Section 36AAA: Section of the Banking Regulation Act, 1949 granting powers related to supersession.
Section 56: Section of the Banking Regulation Act, 1949.
Abhyudaya Cooperative Bank Ltd., Mumbai: Cooperative Bank whose Board of Directors is superseded.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
November 07, 2025
Supersession of Board of Directors of Abhyudaya Cooperative Bank Ltd.,
Mumbai-Extension of period
The Reserve Bank of India, in exercise of its powers under section 36AAA read
with section 56 of the Banking Regulation Act, 1949, had superseded the Board of
Directors of Abhyudaya Cooperative Bank Ltd., Mumbai (the bank) for one year on
November 24, 2023 , due to material concerns arising from poor governance
standards observed within the bank. The period of supersession was extended for
a further period of one year, effective November 24, 2024 .
2. Upon a review, the Reserve Bank of India is satisfied that in the public interest, it is
necessary to further extend the period of supersession beyond the close of business
of the bank as on November 23, 2025.
3. Accordingly, the Reserve Bank of India, in exercise of its powers under sub-section
(1) of section 36AAA read with section 56 of the Banking Regulation Act, 1949, has
extended the period of supersession for a further period of one year, effective from
November 24, 2025. Consequently, Shri Satya Prakash Pathak shall continue as
the Administrator of the bank and shall be assisted by the present Committee of
Advisors comprising of Shri Venkatesh Hegde, Shri Devendra Kumar, and Shri
Suhas Gokhale.
(Brij Raj)
Press Release: 2025-2026/1462 Chief General Manager