GENERAL19 Sept 2026
RBI orders removal of Maharashtra minister, 7 others from Latur DCC Bank
The RBI has ordered the removal of Maharashtra Cooperation Minister Babasaheb Patil and seven other directors of Latur District Central Cooperative Bank. They had crossed the ten-year tenure cap set under the Banking Regulation Act, 1949, as amended in 2025. The order followed a Bombay High Court direction on a bank member's petition. Cooperative bank boards should check director tenures and correct any breaches early.
Key Statutory Highlights
- The RBI ordered the removal of Maharashtra Cooperation Minister Babasaheb Patil and seven other directors of the Latur District Central Cooperative Bank.
- The action followed a Bombay High Court direction on a petition filed by bank member Satish Sheshrao Jadhav.
- Directors of District Central Cooperative Banks face a ten-year tenure cap under the Banking Regulation Act, 1949, as amended by the Banking Laws (Amendment) Act, 2025.
Actionable Advice for Taxpayers / Founders:If you serve on a cooperative bank board, review how long each director has held office against the ten-year cap and speak to a professional before continuing, since the RBI can act on a complaint.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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