Bank Of Maharashtra Ceo Removed : A C Rout Is The Novel Head

The Board of Directors of the Bank of Maharashtra decied to take the arrested Managing Director & Chief Executive Officer Ravindra P Marathe and Executive Director R K Gupta from all functional responsibilities amongst immediate effect.
The evolution came ix days afterwards the Pune police’s Economic Offences Wing (EOW) arrested Marathe as well as Gupta inwards a example of unopen to Rs. 2,43 crore fraudulent loans extended to the Pune-based DSK Group.

According to a contestation released yesteryear the board, Executive Director A C Rout has taken over the responsibilities of doctor & CEO. Rout was heading banking concern operations inwards absence of Marathe as well as Gupta as well as had presided over the bank’s AGM on June 21. It was unclear whether Rout was taking temporary accuse until farther arrangements could live on made or it would live on a long-term tenure.

Last month, the board of PNB divested executive directors K V Brahmaji Rao and Sanjiv Sharan of their powers inwards connectedness amongst the USD 2-billion fraud perpetrated yesteryear billionaire diamond jeweller Nirav Modi.
Allahabad Bank also direct keep away all the powers of its CEO as well as doctor Usha Ananthasubramanian, old original of Punjab National Bank, inwards connectedness amongst the same fraud.
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