The State Co-operative Election Authority, Maharashtra State, Pune, has issued directions to all District Co-operative Election Officers and Taluka/Ward Co-operative Election Officers regarding the amendment to Section 10A (2A)(i) of the Banking Regulation Act, 1949.
The amendment was carried out through the Banking Laws (Amendment) Act, 2025 (dated April 15, 2025) and was notified by the Ministry of Finance in the Gazette of India (Extraordinary) on July 29, 2025. The amended provision has come into force with effect from August 1, 2025.
As per the amended Section 10A (2A)(i), No director of a banking company, other than its Chairman or Whole-time Director, shall hold office continuously for a period exceeding eight years, and ten years in the case of a co-operative bank.
The Authority has also referred to the order dated December 5, 2025, passed by the Calcutta High Court, and the order dated December 12, 2025, passed by the Bombay High Court, Circuit Bench at Kolhapur, in the concerned writ petitions.
In view of the above, election officers have been directed to take note of the amended statutory provision while conducting elections of co-operative banks in the State and to ensure compliance accordingly, including informing subordinate offices and appointing Returning Officers as required.
