![RBI Reconstitutes Committee of Advisors of the Abhyudaya Cooperative Bank RBI Reconstitutes Committee of Advisors of the Abhyudaya Cooperative Bank](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9QMPD42SGm37mnNTmXrnaKtCj-QOfSU6Pakd1uDje_-Z9WAi7MZV-2hZtlEgYCVggLrD5flRAH9FlzN2ZL9vz_AJhxPU3ZvqzJuTnFgWWc4xd5_kfOL63FqPg-0BkMSHv3Y6VHaKhU-gnI89eJNuitn9QnVs1-OJ8FWc9IxByvS6gXtksA97pcH0BYu7K/w320-h192-rw/Copy%20of%20Copy%20of%20Copy%20of%20Untitled%20(500%20%C3%97%20300%20px)%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(7).png)
- This decision was made following the resignation of Shri Mahendra Chhajed from the Committee for personal reasons, effective from March 4, 2024.
- The reconstituted Committee of Advisors now includes:
- Shri Devendra Kumar, former Chief General Manager, SBI.
- Shri Venkatesh Hegde, former General Manager, SBI.
- Shri Suhas Gokhale, former MD, COSMOS Co-operative Bank Limited.
- This committee is expected to assist the Administrator, Shri Satya Prakash Pathak, in managing the affairs of the bank.
- The RBI had superseded the board of Abhyudaya Cooperative Bank due to concerns about “poor governance” and appointed an administrator to manage the affairs of the lender.
- The bank was allowed to continue its normal banking activities.
Question:
Q.1 Why did the RBI supersede the board of the Abhyudaya Cooperative Bank?a. Due to financial fraud
b. Due to poor governance
c. Due to bankruptcy
d. Due to a change in management