statement
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.
A statement by Reserve Bank of India. Statements are as reported by the cited publishers — not verified by DecisionGateway.
has extended the period of supersession for a further period of one-year, effective from November 24, 2026
Related claims
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the close of business of the bank as on November 23, 2026.Reserve Bank of India · statementThe Reserve Bank of India superseded the Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai for one year on November 24, 2023, due to material concerns arising from poor governance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 · statementThe cancellation was made in exercise of powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934.Reserve Bank · 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 · statement