Abhyudaya Bank board supersession extended for another year
The Reserve Bank of India (RBI) has extended the supersession of Abhyudaya Co-operative Bank's board in Mumbai for one year from November 24, 2026. Satya Prakash Pathak will remain administrator, assisted by the existing advisors.
Administrator remains in charge
The RBI extended the supersession of the Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai, for a further year, effective November 24, 2026.
Following a review, it determined that extending the arrangement beyond the close of business on November 23, 2026, was necessary in the public interest.
The order invokes subsection (1) of Section 36AAA, read with Section 56 of the Banking Regulation Act, 1949.
Satya Prakash Pathak will continue as administrator.
The existing Committee of Advisors, comprising Venkatesh Hegde, Devendra Kumar and Suhas Gokhale, will continue to assist him.
The extension retains the bank's current administrator-led governance arrangement.
Governance concerns prompted intervention
The RBI initially superseded the bank's board for one year on November 24, 2023, citing material concerns arising from poor governance standards.
It subsequently extended the supersession by one year from November 24, 2024, and again from November 24, 2025.
The latest order adds another year to that sequence.
Chief General Manager Brij Raj signed the notice, dated November 9, 2026, which carries press release number 2026-2027/1473.
Continuity rather than restoration
The extension keeps the administrator in place rather than restoring the board.
The RBI cites public interest but gives no detailed findings from its latest review.
The notice sets no conditions for returning control to a board.