Forum of bank unions terms action against  Marathe, others illegal

ST Correspondent
Saturday, 7 July 2018

The representatives called the role played by the police in arresting senior officials of the bank as uncalled for, unprecedented and unjustified.

Pune: The United Forum of Maharashtra Bank Unions termed the arrest of senior officials of BoM, including its MD Ravindra Marathe and others, as illegal at a press conference held at Patrakar Bhavan on Friday.

The representatives called the role played by the police in arresting senior officials of the bank as uncalled for, unprecedented and unjustified. The forum stated, “Investigating agencies for the complaints against bank officials are CBI, CVC and Enforcement Directorate. Even the RBI, being the regulator, has got a role to play. But the State government, which doesn’t have any role to play, arrested Marathe (MD), Executive Director RK Gupta, Ex-Chairman & MD Sushil Muhnot and Deputy GM Nityanand Deshpande.”

The forum is also irked over the decision of BoM to divest the executive powers of Marathe and Gupta, which was taken during a board meeting on June 29. It said, “The action on part of the board was also uncalled for and unjustified, more particularly against the background of the press statement by officials from the Finance Department. The State government’s action, and also the board’s decision, is based on the State government’s action, which in our view has damaged the image of the individuals involved, as also the institution i.e. Bank of Maharashtra (BoM), which they represent.”

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