Board divests Bank of Maharashtra MD of powers

Board members of Bank of Maharashtra on Friday divested all the functional responsibilities of managing director of the Bank Ravindra Marathe and executive director Rajendra Gupta with immediate effect.

The board also took a decision of entrusting the responsibilities of the post of managing director and CEO of the bank to executive director AC Rout. The bank officials stated that the decisions taken in the board meeting have been conveyed to SEBI as well as the Department of Financial Services.