The latest board elections of Maharashtra-based Jalgaon Peoples Cooperative Bank have once again highlighted how family influence continues in cooperative banks despite the new tenure norms introduced for directors.
The Cooperative Election Authority (CEA) under the Union Ministry of Cooperation on Tuesday approved the bank’s newly elected Board of Directors, formally completing the constitution process.
The spotlight, however, remains on Balachandra Prabhakar Patil, considered one of the most influential figures in the bank’s affairs. His son Aniket Patil has been re-elected and was the outgoing Chairman of the bank, while another son, Nimish Patil, has entered the board as a new director, further strengthening the Patil family’s hold over the cooperative bank.
The election also witnessed several family-linked transitions. Prakash Patil was elected while his wife Smita Prakash Patil served on the outgoing board. Sameer Chaudhari entered the board as his father Chandrakant Baliram Chaudhari completed his tenure as director in the previous board.
Other elected directors include Rameshwar Jakhete, Vijay Joshi, Govind Mahajan, Ashok Mahajan, Shailaja Chaudhari, Jyotsna Barahate and Rajesh Parmar. Vice Chairman Prakash Mangilala Kothari also retained his position, ensuring continuity in the bank’s leadership structure.