The Reserve Bank of India (RBI), in its recent Risk Assessment Report, has raised serious governance and oversight concerns regarding the functioning of the Surat People’s Cooperative Bank.

According to the report, one director who was elected as Chairman of the Board in 2023 has been a member of the Board for over 10 years. The RBI noted that there was no deliberation on items presented in the Calendar of Reviews and that the Board failed to provide guidance or direction on such matters.

The assessment further observed that the Board was involved in administrative matters, including loan and donation decisions related to directors’ parties, indicating lapses in conduct governance.

While the bank had complied with Section 10A of the Banking Regulation Act, 1949 (AACS)-which mandates tha

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