RBI removes Maharashtra minister Babasaheb Patil from Latur cooperative bank board

The Reserve Bank of India removed Maharashtra NCP Minister Babasaheb Patil from the Latur District Central Cooperative Bank’s board due to an alleged breach of the 10-year tenure limit for directors. The complaint was filed by Satish Sheshrao Jadhav, alleging that Patil had served as a director for over a decade, violating cooperative bank board provisions.

Patil contested the decision, stating it was improper and vowed to challenge it in the high court. The RBI intervened after the matter reached the Aurangabad bench of the Bombay High Court, which directed the competent authority to decide the complaint within six weeks. Seven of the eight directors named in the complaint resigned, but Patil refused to step down.