RBI Removes Maharashtra Minister Babasaheb Patil From Latur Cooperative Bank Board
- The Reserve Bank of India ordered the removal of Babasaheb Patil and seven other Latur District Central Cooperative Bank directors for exceeding the 10-year tenure limit.
- The action followed a complaint by bank member Satish Sheshrao Jadhav and directions from the Aurangabad bench of the Bombay High Court.
- Seven directors resigned on September 10 after receiving Reserve Bank of India notices, while Patil remained in office.
- Patil disputed the Reserve Bank of India’s interpretation and indicated that they would challenge the order before the High Court.
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Latur DCC Bank: RBI Orders Removal of Maharashtra Minister Babasaheb Patil From Board Over Tenure Limit | 📰 LatestLY
The Reserve Bank of India has ordered the removal of Maharashtra Cooperation Minister Babasaheb Patil and seven directors from the Latur DCC Bank board for violating the 10-year tenure limit. The action follows a Bombay High Court directive on a plea by member Satish Jadhav. While seven directors resigned earlier, Patil has decided to challenge the order. 📰 Latur DCC Bank: RBI Orders Removal of Maharashtra Minister Babasaheb Patil From Board Ov…
RBI orders removal of Maharashtra minister Babasaheb Patil, seven Latur bank directors
RBI has ordered the removal of Maharashtra Cooperation Minister Babasaheb Patil and seven other directors from Latur District Central Cooperative Bank for exceeding the 10-year tenure limit under banking law. The action followed a Bombay High Court direction to RBI to decide a complaint against the directors.
RBI Action in Maharashtra: The Reserve Bank of India (RBI) has ordered the removal of Maharashtra Cooperation Minister and NCP leader Babasaheb Patil from the post of director of Latur District Central Cooperative Bank for violating the 10-year tenure limit under banking rules.
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RBI removes Maha Minister from Latur bank board over tenure violations
Latur, Sep 19 (SocialNews.XYZ) In a major setback for Nationalist Congress Party (NCP) leader and Maharashtra Cooperation Minister Babasaheb Patil, the Reserve Bank of India (RBI), in a communication dated September 18, dismissed him from... - Social News XYZ
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