The Reserve Bank of India (RBI) has extended the period of supersession of the Board of Directors of Abhyudaya Cooperative Bank Ltd., Mumbai, for another year, effective November 24, 2025.
The RBI had earlier superseded the Board on November 24, 2023, citing material concerns arising from poor governance standards observed within the bank. The period was initially extended for one year in November 2024, and the latest extension continues the RBI’s direct oversight until November 2026.
In its latest notification, the central bank said that after review, it 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.”
Following this decision, Satya Prakash Pathak will continue as the Administrator of the bank. He will be assisted by the existing Committee of Advisors, comprising Venkatesh Hegde, Devendra Kumar, and Suhas Gokhale.
The supersession has been carried out under the powers vested in the RBI by Section 36AAA read with Section 56 of the Banking Regulation Act, 1949, which governs cooperative banks.
It bears recalling that Abhyudaya Co-operative Bank reported a net profit of Rs 5.22 crore in FY 2024–25, while reducing its accumulated losses to Rs 346.52 crore from Rs 371.50 crore, improving asset quality, raising the Provision Coverage Ratio to 73.14%, and strengthening governance for sustained financial recovery.