RBI extends supersession of Abhyudaya Co-operative Bank board by one more year
RBI has extended its supersession of the board of Abhyudaya Co-operative Bank, Mumbai, by one year from 24 November 2026, citing the public interest.
Key points
- RBI has extended the supersession of Abhyudaya Co-operative Bank's board by one more year, effective 24 November 2026.
- RBI first superseded the board on 24 November 2023, citing material concerns arising from poor governance standards at the bank.
- The bank stays under an RBI-appointed Administrator; the release announces no new restriction on deposits or withdrawals.
Photo: Sailko / Wikimedia Commons, CC BY 3.0 (cropped). File photo.
The Reserve Bank of India (RBI) has extended, for one more year, its supersession of the Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai, effective 24 November 2026. RBI said in a press release on 9 November 2026 that the extension is necessary in the public interest. The bank will stay under an RBI-appointed Administrator, assisted by a Committee of Advisors.
What Happened
RBI first superseded the bank's board for one year on 24 November 2023, citing "material concerns arising from poor governance standards observed within the bank". Supersession means the regulator removes the elected board and puts an Administrator in charge of running the bank.
The supersession was extended by one year from 24 November 2024, and again by one year from 24 November 2025. RBI said that, upon a review, it is satisfied that a further extension beyond the close of business on 23 November 2026 is necessary in the public interest.
RBI has now extended the period by another year, effective 24 November 2026, using its powers under sub-section (1) of Section 36AAA read with Section 56 of the Banking Regulation Act, 1949. The present Administrator will continue to run the bank, assisted by the present three-member Committee of Advisors, the release said.
What It Means
For depositors and borrowers of Abhyudaya Co-operative Bank, the bank will continue to be managed by the RBI-appointed Administrator rather than by an elected board until at least November 2027. This will be the fourth year of supersession since November 2023.
The press release concerns only the bank's management. It does not announce any new restriction on deposits, withdrawals or lending, and it does not say when an elected board may return.
The extension is a regulatory action by RBI over governance at the bank. Customers who have a complaint about the bank's service can file it on RBI's Complaint Management System at https://cms.rbi.org.in.
Source: RBI press release
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Sources & Citations
- RBI press release — Reserve Bank of India