RBI has extended the supersession of the Board of Directors of Abhyudaya Cooperative Bank Ltd., Mumbai, for one more year, effective November 24, 2024, due to concerns about poor governance. This extension is deemed necessary in the public interest until November 23, 2025. Shri Satya Prakash Pathak will continue as the Administrator, assisted by the Committee of Advisors (Shri Venkatesh Hegde, Shri Devendra Kumar, and Shri Suhas Gokhale). The initial supersession was effective November 24, 2023. The press release number is 2025-2026/1462. Brij Raj, Chief General Manager.
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Key Entities Referenced
Banking Regulation Act, 1949: The act under which the Reserve Bank of India exercised its powers.
Reserve Bank of India: The regulator that extended the supersession.
Abhyudaya Cooperative Bank Ltd., Mumbai: The bank whose board of directors' supersession was extended.
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भारतीय ररज़र्व ब ैंक
RESERVE BANK OF INDIA
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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with section 56 of the Banking Regulation Act, 1949, had superseded the Board of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