Bank of Maharashtra Receives Four Nominations for Shareholder Director Election Ahead of EGM

Mumbai: Bank of Maharashtra has received four nominations for the election of one shareholder director ahead of its upcoming Extraordinary General Meeting (EGM) scheduled for March 23, 2026.

The bank informed stock exchanges that nominations were accepted until March 6, 2026, for the position of director representing shareholders other than the Central Government.

The four candidates contesting the election are Reena Jha Tripathi, Alok Jain, Ruma Dey, and Prasenjeet Shrikrishna Fadnavis.

According to the bank, its Board of Directors granted “Fit and Proper” status to all four candidates during its meeting held on March 9, 2026, in line with the guidelines issued by the Reserve Bank of India under the Commercial Banks – Governance Directions, 2025.

As there are four candidates for a single vacancy, the election will be conducted at the EGM through a voting process. The candidate receiving the majority of votes will be elected as the shareholder director.

The bank also announced that remote e-voting will be available to shareholders from 9:00 am on March 18, 2026, to 5:00 pm on March 22, 2026, in addition to voting during the virtual EGM.

The meeting will be held through video conferencing (VC) and other audio-visual means (OAVM).

The election forms part of the bank’s governance process to ensure representation of public shareholders on its board.