RBI keeps control of Abhyudaya Co-operative Bank for one more year

The Reserve Bank of India has extended the control over Mumbai-based Abhyudaya Co-operative Bank by another year starting November 24, 2026. The central bank stated that this step is necessary in the public interest.

Leadership

With this latest extension, Satya Prakash Pathak will continue to work as the bank's Administrator. He will get help from a Committee of Advisors that includes Venkatesh Hegde, Devendra Kumar, and Suhas Gokhale.

Context

Co-operative banks in India are regulated by the central bank to protect depositors and maintain financial stability. When governance standards drop, banking regulators sometimes step in to manage daily operations directly.

Background

The Reserve Bank of India first took over the bank's Board of Directors for one year on November 24, 2023. That initial action happened because of major worries about poor governance standards inside the bank. Since then, the takeover has been extended every year in November 2024, November 2025, and now again for 2026.