The change of the guard at Gujarat based Sabarkantha District Cooperative Bank has meant Ms. Hansaben Patel is elected unopposed as the Chairperson of the bank, in an election held on Tuesday.
Ms. Patel has replaced the well-known cooperator of Gujarat and two terms Chairman of the bank Maheshbhai Patel from the top position. It is reported that due to the amended banking regulation act, Patel could not contest the election of the bank.
Besides, Bhikhaji Damor was elected as her deputy. Around 10 outgoing directors of the bank have barred from contesting the election due to the amended Banking Regulation Act, which bars directors from remaining on the board continuously for a period exceeding eight years. The new board of the bank comprises many new directors.
The state BJP party high command had put the seal on the name of top functionaries. Meanwhile, the efforts to contact the newly elected Chairperson have failed.
It is learnt that Mukeshbhai Patel, the husband of the newly elected Chairperson was director on the board in the last term but could not contest the election this time.
Sabarkantha DCCB has a business mix of more than 4500 crore and a network of around 131 branches across Sabarkantha and Aravalli districts.