The Reserve Bank of India (RBI) has extended the tenure of the RBI-appointed administrator at Mumbai-based Abhyudaya Co-operative Bank by another year. The extension will take effect from November 24, 2026, citing public interest.
The RBI first superseded the bank's board of directors on November 24, 2023, for one year. The decision followed concerns over poor governance standards. The banking regulator subsequently extended the supersession in November 2024 and November 2025.
In its latest statement, the RBI said a review had established the need to continue the arrangement beyond the close of business on November 23, 2026.
Key Highlights
- RBI extends Abhyudaya Bank's board supersession by another year, effective November 24, 2026.
- Administrator Satya Prakash Pathak will continue for another year with support from the existing Committee of Advisors.
- The bank reported a nearly twofold increase in net profit to ₹10.11 crore in FY26.
RBI Continues Administrator's Tenure
Satya Prakash Pathak will continue as the RBI-appointed administrator for another year. He will receive assistance from the existing Committee of Advisors, comprising Venkatesh Hegde, Devendra Kumar and Suhas Gokhale.
When the RBI superseded the board in 2023, it clarified that no business restrictions had been imposed. The bank would continue its regular banking operations under the administrator's guidance.
Abhyudaya Co-operative Bank began operations in 1964 and received scheduled bank status in September 1988. In January 2007, it was registered as a multi-state co-operative bank by the Central Registrar in New Delhi. Its operations are currently limited to Maharashtra, Gujarat and Karnataka.
Also Read: Automotive Finance Transformation: How Data, AI & GCCs Are Reshaping Decision-Making
Abhyudaya Bank Reports Improvement in FY26
The bank reported deposits of ₹9,366.62 crore as of March 31, 2026, compared with ₹9,327.36 crore a year earlier. However, its loans declined to ₹4,323.24 crore from ₹4,865.31 crore.
Its net profit nearly doubled to ₹10.11 crore in FY26, against ₹5.22 crore in the previous year.
Asset quality also improved during the year. Gross non-performing assets (GNPA) declined to ₹842.42 crore from ₹949.01 crore, while net NPAs fell to ₹182.16 crore from ₹253.25 crore. The provision coverage ratio increased to 78.2% from 73.1%.
The bank described FY26 as another year of progress in its turnaround journey. It highlighted higher profitability, lower NPAs, stronger provisioning and improvements in net worth and capital adequacy.
The lender also reiterated its commitment to governance, regulatory compliance, customer service and financial discipline.
