With a view to refurbishing its image and boosting the morale of its workers, the Bombay Mercantile Cooperative Bank (BMCB) has initiated a thorough change in management.
The new people chosen to constitute the management are Adv Hasankhan S Pathan as Chairman, Aziz Ahmed Jout alil Ahmed Vice Chairman and M Iqbal Khan Sirguroh as Managing Director (MD), says Money Control.
With complaints piled up against the bank, the RBI had of late been tightening the screws on the previous management. The apex bank had stopped the erring cooperative bank from giving further loans.
Informed sources say most of the new appointees have experiences and knowledge of having worked in the banking sector.