statement
Upon a review, the Reserve Bank of India 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, 2026.
A statement by Reserve Bank of India. Statements are as reported by the cited publishers — not verified by DecisionGateway.
Upon a review, the Reserve Bank of India 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, 2026.
Related claims
The Reserve Bank of India has extended the period of supersession for a further period of one year, effective from November 24, 2026, in exercise of its powers under sub-Section (1) of Section 36AAA read with Section 56 of the Banking Regulation Act, 1949.Reserve Bank of India · statementThe Reserve Bank of India superseded the Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai for one year on November 24, 2023, due to material concerns arising from poor governance standards observed within the bank.Reserve Bank of India · statementThe period of supersession was further extended for a period of one year, effective November 24, 2025.Reserve Bank of India · statementThe period of supersession was extended for a period of one year, effective November 24, 2024.Reserve Bank of India · statementReserve Bank of India will have the full discretion to accept or reject any or all bids either wholly or partially without assigning any reason.Reserve Bank of India · statementThe Central Government's approval of the design, form and material of bank notes follows consideration of recommendations made by the Central Board of RBI.RBI Act 1934, Section 25 · statement