Bank of Maharashtra has announced the appointment of Shri Saurabh Kumar as a Government of India (GOI) Nominee Director to its board. This appointment, effective immediately, comes as per a notification from the Department of Financial Services. Shri Kumar, a Joint Secretary in the Ministry of Finance, brings extensive experience in administration and policy matters, succeeding Shri Abhijit Phukon. His expertise is expected to contribute to the bank’s strategic direction.
New Government Nominee Director Appointed
Bank of Maharashtra has officially announced the appointment of Shri Saurabh Kumar as a nominee Director representing the Government of India (GOI) on its Board of Directors. This strategic appointment was made effective from September 10, 2026, and will continue until further orders are issued.
Background of the Appointee
Shri Saurabh Kumar currently serves as a Joint Secretary within the Department of Financial Services at the Ministry of Finance, Government of India. He is an officer of the 2009-batch Indian Administrative Service (IAS) from the Chhattisgarh cadre. Shri Kumar holds a Bachelor of Technology (Electronics) degree and possesses over 17 years of experience in various administrative roles, including district administration, urban development, and revenue administration. He has also previously served as a Director in the Department of Revenue, Government of India. He is not related to any existing directors of the bank and is not debarred from holding directorships by any regulatory authority.
Appointment Rationale
The appointment has been made in exercise of the powers conferred by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. This move signifies the Government of India’s continued oversight and involvement in the governance of nationalized banks. Shri Saurabh Kumar replaces Shri Abhijit Phukon in this directorial capacity. The bank has assured that a brief profile of Shri Saurabh Kumar is attached for reference.
Source: BSE
