Under the 2025 amendment to the BR Act 1949, a director’s tenure was reduced to ten years in Maharashtra’s DCC Bank elections. As the Dharashiv case demonstrated, the BR Act remains in force, with the RBI maintaining supreme regulatory power. However, this confusion reveals that central law alone cannot break monopolies; clear state-level provisions [The State Government’s Maharashtra Cooperative Societies Act, 1960 (MCS Act)], and its coordination with BR act are essential. Without such coordination, the ten-year limit will remain merely a ‘rule on paper.’...(Read the full article in the September 2026 issue)