NEW FACES IN PSUS
Govt removes Sushil Muhnot as CMD of Bank of Maharashtra
NEW DELHI . The government today removed Sushil Muhnot as Chairman and Managing Director of Bank of Maharashtra, four days ahead of his scheduled retirement.
Muhnot was to retire on September 30.According to reports, the finance ministry had earlier this year served a showcause notice to Muhnot asking him to explain why he should not be terminated from his job for allegedly occupying two houses.
He had allegedly occupied two houses - one in Mumbai and another in Pune, the headquarters of the Bank of Maharashtra.The government has appointed R P Marathe, executive director at Bank of India, MD and CEO of Bank of Maharashtra with immediate effect.
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