📷 Image: Wikimedia Commons / Ahmed Nisar
Business
RBI Orders Removal of Maharashtra Minister and 7 Others from Latur DCC Bank Board
✍️ Business Standard
🗓 20 Sep 2026, 04:18 AM
👁 12
The Reserve Bank of India has directed the removal of a Maharashtra minister and seven other individuals from the board of the Latur District Central Cooperative Bank, citing governance concerns.
The Reserve Bank of India has ordered the removal of a Maharashtra minister and seven other individuals from the management of the Latur District Central Cooperative Bank. The directive marks a significant intervention by the central bank into the affairs of a district-level cooperative bank.
The RBI's action is aimed at addressing governance and administrative concerns at the Latur DCC Bank. The removal of the minister and the seven others from the bank's board underscores the regulator's emphasis on maintaining discipline and accountability in cooperative banking institutions.
The development has drawn attention to the functioning of district central cooperative banks in Maharashtra, which play a crucial role in rural credit and agricultural financing. The RBI's order is expected to lead to administrative restructuring at the Latur DCC Bank in the coming days.
The RBI's action is aimed at addressing governance and administrative concerns at the Latur DCC Bank. The removal of the minister and the seven others from the bank's board underscores the regulator's emphasis on maintaining discipline and accountability in cooperative banking institutions.
The development has drawn attention to the functioning of district central cooperative banks in Maharashtra, which play a crucial role in rural credit and agricultural financing. The RBI's order is expected to lead to administrative restructuring at the Latur DCC Bank in the coming days.