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RBI Reconstitutes Committee of Advisors of the Abhyudaya Cooperative Bank

Published on March 20, 2024
Current context: The Reserve Bank of India (RBI) has reconstituted the Committee of Advisors of the Abhyudaya Cooperative Bank.
RBI Reconstitutes Committee of Advisors of the Abhyudaya Cooperative Bank
  • 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  • The RBI had superseded the board of Abhyudaya Cooperative Bank due to concerns about “poor governance” and appointed an administrator to manage the affairs of the lender.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.


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
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