One more Bank on verge of Failure? RBI Appoints New Administrator for Irinjalakuda Town Co-operative Bank
The Reserve Bank of India (RBI) has appointed a new Administrator for Irinjalakuda Town Co-operative Bank Limited, Kerala. Earlier, on July 30, 2025, RBI had imposed All Inclusive Directions (AID) on the bank.
After that, RBI removed the bank’s Board for a period of 12 months. It also appointed an Administrator and a Committee of Advisors (CoA). This was announced through press releases on October 7, 2025, and November 13, 2025.
The Irinjalakuda Town Co-operative Bank Ltd No.55 was registered as a co-operative society on 3rdMay 1918 and started functioning on 19th July 1918. It came under the purview of Co operative societies Act and Rules of 1969 as a primary non agricultural credit society and it developed into URBAN BANK in November 1996.
The current Administrator, Shri Raju S Nair, has now expressed his inability to continue in the role due to personal reasons. As a result, RBI has decided to appoint Shri Gopi Krishnan C R as the new Administrator. He is a former General Manager of Indian Bank. His appointment is effective from March 23, 2026.
There is no change in the Committee of Advisors (CoA). The same members will continue as announced earlier in November 2025. RBI said that it is closely monitoring the situation of the bank. It will continue to take necessary steps to protect the interests of depositors.
