The Maharashtra Cooperation Department has asked Jijamata Mahila Cooperative Bank, Pune, to take appropriate action under the Banking Regulation Act, 1949, against directors who have served for more than 10 years.
In a recent letter, the Deputy Registrar of Cooperative Societies, Maharashtra, referred to a complaint filed by Raju Shedge on August 17, 2026. The complainant alleged that six directors of the bank had continued in office for periods ranging from 11 to over 27 years.
The letter noted that the bank, through its communication dated August 3, 2026, had submitted details of directors who had completed more than 10 years in office, thereby confirming the factual position raised in the complaint.
Seeking their disqualification and removal, the complainant had also cited an RBI circular dated May 25, 2026.
However, the Cooperation Department has not directly ordered the removal of these directors. Instead, it has advised the bank to take appropriate action at its own level in accordance with Sections 10A(2)(a) and 10A(2)(b) of the Banking Regulation Act, 1949.
