Bank of Maharashtra director appointment: The public sector lender informed exchanges in a BSE filing dated 13 August 2026 that the Central Government has appointed Naresh Kumar Vashisht as a part-time non-official director on the bank’s board. The appointment took effect on 12 August 2026, the date on which the Department of Financial Services issued the relevant notification.

The appointment was made under Clause (h) of sub-section (3) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. Bank of Maharashtra submitted the information under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Three-year board tenure notified

Vashisht has been appointed for three years from 12 August 2026, or until further orders from the Government of India, whichever is earlier. The Department of Financial Services notified the appointment through a communication dated 12 August 2026.

According to the profile attached to the exchange filing, Vashisht is 52 years old and holds a Master of Commerce degree and an MBA in Human Resource Development. His professional background includes exposure to the construction sector, covering project execution, business operations, workforce management and organisational administration.

  • Role: Part-time non-official director
  • Date of appointment: 12 August 2026
  • Tenure: Three years or until further government orders, whichever is earlier
  • Qualifications: M.Com and MBA in Human Resource Development

Regulatory declarations

Bank of Maharashtra stated that Vashisht is not related to any existing director of the bank. It also confirmed that he is not debarred from holding the office of director by any SEBI order or by another regulatory or statutory authority.

The disclosure was signed by Vishal Sethia, Company Secretary and Compliance Officer. Bank of Maharashtra shares are listed under BSE scrip code 532525 and NSE symbol MAHABANK.

Source: BSE corporate announcement.