SEBI Issues Warning Letter To Bank Of Maharashtra For Not Conducting Committee Meetings

The Securities and Exchange Board of India (SEBI) has issued a warning letter to the Bank of Maharashtra for not conducting the Nomination & Remuneration Committee (NRC) meeting in the financial years 2022-23 and 2023-24.

In an exchange filing, the bank stated that it received the letter dated March 12, 2025, on March 17, 2025.

The letter highlights a violation of Regulation 19(3A) of SEBI LODR Regulations, 2015. The bank acknowledged the communication and stated that necessary steps would be taken to address the concerns. It also clarified that the warning letter will not impact its financial, operational, or other activities. The exchange filing included a copy of the letter from SEBI.

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