The Co-operative Election Authority (CEA) has successfully conducted elections in six major Urban Cooperative Banks (UCBs) following the implementation of the amended director tenure provisions under the Banking Regulation Act, 1949.
Effective from 1 August 2025, the amendment to Section 10A (2a)(i) extended the maximum continuous tenure of directors in cooperative banks from eight to ten years, excluding Chairpersons and Whole-time Directors. To ensure strict compliance, the CEA incorporated specific instructions regarding the revised tenure limit into the appointment orders of Returning Officers.
Under this amended framework, elections have been conducted in six Multi-State Cooperative Urban Banks: The Mehsana Urban Cooperative Bank Ltd., Railway Shramik Sahakari Bank Ltd., AP Mahesh Cooperative Urban Bank Ltd., Bharati Sahakari Bank Ltd., The Ajara Urban Co-operative Bank Ltd. and Shri Veershaiv Cooperative Bank Limited.
By conducting these elections under the revised tenure norms, the Authority has ensured alignment with the updated banking law while reinforcing transparency, regulatory compliance and leadership continuity in the cooperative banking sector.