Mumbai: Bank of Maharashtra has appointed Naresh Kumar Vashisht as a Part-Time Non-Official Director on its Board. The appointment was notified by the Central Government on August 12, 2026, through the Department of Financial Services (DFS).
The bank informed the BSE and NSE on August 13, 2026, about the appointment in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations.
Bank of Maharashtra Board Appointment Details
The appointment has been made through a notification issued by the Department of Financial Services under Clause (h) of sub-section (3) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Key details include:
- Name: Naresh Kumar Vashisht
- Position: Part-Time Non-Official Director
- Appointment Date: August 12, 2026
- Tenure: Three years from the date of notification
- Appointment Authority: Government of India, through the Department of Financial Services
- BSE Scrip Code: 532525
- NSE Scrip Code: MAHABANK
His appointment is effective from the date of the government notification and will continue for three years or until further orders, whichever is earlier.
Who is Naresh Kumar Vashisht?
Naresh Kumar Vashisht is 52 years old and has an academic background in commerce and human resource management.
His qualifications include:
- Master of Commerce (M.Com)
- MBA in Human Resource Development (HRD)
Vashisht has professional experience in the construction sector, where he has handled several areas of business and organisational operations.
His experience includes:
- Project execution
- Day-to-day business operations
- Workforce management
- Organisational administration
His professional exposure is expected to bring practical experience in project management, operations and people management to the bank’s Board.
Vashisht’s Role on Bank of Maharashtra Board
The appointment of a Part-Time Non-Official Director is aimed at strengthening the bank’s governance structure and bringing external expertise to Board-level discussions.
Vashisht’s background in project execution and workforce management could provide an operational perspective in areas such as business strategy, organisational administration and governance.
Public sector banks regularly have government-nominated non-official directors on their Boards to provide wider perspectives on governance and strategic matters.
Bank Confirms Director Eligibility
Bank of Maharashtra has confirmed that Naresh Kumar Vashisht is not related to any existing Director of the bank.
The bank has also stated that he is not debarred from holding the office of Director by SEBI or any other regulatory authority.
The appointment was disclosed to the stock exchanges in accordance with applicable regulatory requirements.
About Bank of Maharashtra
Bank of Maharashtra (BoM) is a public sector bank headquartered in Pune, Maharashtra. Established in 1935, the bank provides banking services across retail, agriculture, MSME, corporate, and digital banking segments. With a wide branch network across India, BoM focuses on financial inclusion, technology-driven banking solutions, and sustainable business growth.
