RBI keeps Mumbai’s Abhyudaya Co-operative Bank under its administrator for another year

The Reserve Bank of India (RBI) has kept the board of Abhyudaya Co-operative Bank, Mumbai, out of office for one more year, beyond 23 November 2026, the central bank said on 9 November.

The RBI said that after a review, it was satisfied that the extension was necessary in the public interest. The bank will continue to be run by its administrator, Satya Prakash Pathak, a former Chief General Manager of the State Bank of India.

What it means for customers

When the RBI supersedes a board, it removes the elected directors and puts its own administrator in charge. The bank keeps working as usual. The RBI’s statement did not mention any new limits on deposits or withdrawals.

Mr. Pathak will be helped by the existing committee of advisers: Venkatesh Hegde, Devendra Kumar and Suhas Gokhale.

The background

The RBI first removed the board for a year on 24 November 2023. It cited “material concerns” about poor governance at the bank. It extended the order by a year from 24 November 2024, and again from 24 November 2025.

The Bombay High Court upheld the RBI’s action in November 2024. Former chairman Sandeep Ghandat and others appealed. On 3 September 2026, the Supreme Court dismissed their appeals. It held that the RBI can extend such an order beyond the board’s elected term, as long as the total time does not exceed five years.

What’s next

The latest extension takes the supersession into its fourth year. Under the Supreme Court’s ruling, it can last until November 2028 at most.