The Reserve Bank of India, vide its Press Release dated November 24, 2023, had announced the supersession of the Board of Directors of Abhyudaya Cooperative Bank Ltd., for a period of 12 months and appointed Shri Satya Prakash Pathak as “Administrator” to manage the affairs of the bank during this period. A “Committee of Advisors” was also constituted to assist the Administrator to discharge his duties.

Consequent upon the resignation of Shri Mahendra Chhajed from the “Committee of Advisors” for personal reasons with effect from March 4, 2024, it has been decided to reconstitute the committee and appoint Shri Devendra Kumar as a member of the “Committee of Advisors” in his place with immediate effect. The “Committee of Advisors” will now comprise of following members:

(i) Shri Devendra Kumar (former Chief General Manager, SBI);

(ii) Shri Venkatesh Hegde (former General Manager, SBI);

(iii) Shri Suhas Gokhale (former MD, COSMOS Co-operative Bank Limited).

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/2055