RBI has reconstituted the Committee of Advisors of the Abhyudaya Co-op Bank in the wake of resignation by one of them.
Consequent upon the resignation of Mahendra Chhajed from the “Committee of Advisors” for personal reasons with effect from March 4, 2024, it has been decided to reconstitute the committee and appoint Shri Devendra Kumar as a member of the “Committee of Advisors” in his place with immediate effect.
It bears recalling that the RBI had announced on Nov 24, 2023, the supersession of the Board of Directors of Abhyudaya Cooperative Bank Ltd., for a period of 12 months and appointed Satya Prakash Pathak as “Administrator” to manage the affairs of the bank during this period.
A “Committee of Advisors” was also constituted to assist the Administrator to discharge his duties.
The “Committee of Advisors” will now comprise of following members: (i) Shri Devendra Kumar (former Chief General Manager, SBI); (ii) Shri Venkatesh Hegde (former General Manager, SBI); (iii) Shri Suhas Gokhale (former MD, COSMOS Co-operative Bank Limited).