Supersession of Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai - Extension of period

The Reserve Bank of India, in exercise of its powers under Section 36AAA read with Section 56 of the Banking Regulation Act, 1949, had superseded the Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai (the bank) for one year on November 24, 2023 , due to material concerns arising from poor governance standards observed within the bank . The period of supersession was extended for a period of one-year, effective November 24, 2024 and further extended for a period of one year, effective November 24, 2025 . 2. Upon a review, the Reserve Bank of India is satisfied that, in the public i

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