The government has removed Sushil Muhnot as CMD of Bank of Maharashtra just four days before his date of retirement from service. While the government did not give any reasons for the removal, it is believed that the action has been on account of his misusing official position. R.P. Marathe, ED, Bank of India, has already been nominated by the government as the new MD and CEO of the bank. The finance ministry action came through a notification. The ministry had earlier served a show cause notice on Muhnot asking him to explain why he should not be removed from his job for allegedly occupying two houses. Muhnot had in his possession two houses of the bank – one in Mumbai and another in Pune.
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