Maharashtra Nationalist Congress Party (NCP) minister Babasaheb Patil has been removed from the Latur District Central Cooperative Bank’s board by the Reserve Bank of India (RBI) over an alleged breach of the 10-year tenure limit for directors.
He sought their disqualification. Meanwhile, Patil has disputed the RBI’s interpretation of the tenure provision. “The RBI’s decision is improper as we cannot be removed under that particular** provision.
Satish Sheshrao Jadhav, a member and authorised voter representative of the Latur District Central Cooperative Bank, filed a complaint with the RBI on May 25, alleging that the state cooperation minister himself had violated the norms, as he was one of the bank’s 19 directors who had crossed the 10-year tenure limit.
Patil, however, has called the decision “improper” and said he will challenge it in the high court. Hence, I will challenge it before the high court in my capacity as a bank director,” he said.
