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Written by CA. Yashvardhan Kedia

CA. Yashvardhan Kedia focuses on taxation, business accounting, and compliance management for MSMEs. He helps business owners understand financial information and establish practical processes for maintaining accurate books.

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Supersession of Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai - Extension of period

By CA. Yashvardhan Kedia   |   12-11-2026 11:30:00

The Reserve Bank of India, in exercise of its powers under Section 36AAA read with Section 56 of the Banking Regulation Act, 1949, had superseded the Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai (the bank) for one year on November 24, 2023, due to material concerns arising from poor governance standards observed within the bank. The period of supersession was extended for a period of one-year, effective November 24, 2024 and further extended for a period of one year, effective Read More

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