Mumbai: The Reserve Bank of India on Monday, November 9, extended the supersession of the Board of Directors of Abhyudaya Co-operative Bank for one more year, keeping the Mumbai-based lender under the central bank's administrator into a fourth year, PTI reported.

Source: PTI via The Hindu BusinessLine

"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," the central bank said in its statement, as reported by PTI and other outlets carrying the RBI release.

Source: RBI statement via 24x7 Live News

The extension takes effect from November 24, 2026. The RBI first superseded the bank's board on November 24, 2023, for one year, citing material concerns arising from poor governance standards observed within the bank, and then extended the supersession for a year each from November 24, 2024 and November 24, 2025.

Satya Prakash Pathak, a former Chief General Manager of the State Bank of India who was appointed Administrator when the board was superseded in 2023, will continue to manage the affairs of the bank. He will be assisted by the present Committee of Advisors comprising Venkatesh Hegde, Devendra Kumar and Suhas Gokhale, the RBI said.

Reports carrying the RBI statement put the bank's deposits at Rs 9,366.62 crore as of March 31, 2026, marginally higher than Rs 9,327.36 crore a year earlier. The extension is an administrative and governance measure over the bank's board; Monday's announcement did not announce any new restriction on depositors or on the bank's normal banking business.