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RBI supersedes board of Abhyudaya Coop Bank for poor governance standards

Mumbai:The Reserve Bank of India on Friday superseded the board of Abhyudaya Cooperative Bank for one year for poor governance standards and appointed an administrator to manage the affairs of the lender.

However, no business restriction has been placed by the RBI and the bank will continue to carry on with its normal banking activities under the guidance of the administrator.

Satya ....

Satya Prakash Pathak , Abhyudaya Cooperative Bank , Reserve Bank , Prakash Pathak , Chief General Manager , State Bank ,