RBI Removes Minister Patil From Latur Bank Board
The Reserve Bank of India has removed a minister from the board of directors at Latur Bank under updated Banking Regulation Act provisions. Officials stated that the Banking Regulation Act became applicable to cooperative banks in 2021 and was amended in 2025.
Under the amended provisions, individuals who had completed 10 years as directors as of August 1, 2025, are no longer permitted to hold office. The removal follows these regulatory changes aimed at ensuring compliance with tenure norms for cooperative bank board members.
