Maharashtra state cooperative bank board to have fewer district co operative representatives

Maharashtra state cooperative bank at its annual general meeting (AGM) resolution passed to reduce this number to six. At the same time, the representation from urban cooperative bank is increased from two to four and director from housing cooperative society is also included.

With the opposition parties Congress and Nationalist Congress Party (NCP) calling it an attempt by the ruling Bharatiya Janata Party (BJP) to wrest control of the bank, Maharashtra state cooperative (MSC) bank, the apex bank for the cooperative banks in the state, recently passed a resolution to change the composition of its board and bringing down the directors’ number of district cooperative bank from 12 to 6.

The apex bank for the cooperative banks in the state, recently passed a resolution to change the composition of its board and bringing down the directors’ number of district cooperative bank from 12 to 6. (MSC BANK)

MSC bank’s administrator Vidyadhar Anaskar on Friday told the media about the various initiatives taken to bring the bank back on track.

Anaskar said that the apex bank’s general body had given approval for new changes in the bylaws and make changes in the quota of elected members.

He said that two former deputy chief ministers Ajit Pawar and Vijay Singh Mohite Patil were present at the general body meeting and they too agreed to the changes made by the administrator.

Earlier, of the 21 directors of the bank, 12 used to be elected by district central cooperative (DCC) banks, which are mostly controlled by the Congress and the NCP.

Maharashtra state cooperative bank at its annual general meeting (AGM) resolution passed to reduce this number to six. At the same time, the representation from urban cooperative bank is increased from two to four and director from housing cooperative society is also included.

Anaskar said the decision to reduce representation of district central cooperative (DCC) banks was taken as this category had more than 50 per cent representation on the board and as per Supreme Court’s verdict there can’t be more than 50 per cent reservation.

Meanwhile, Vidyadhar Anaskar said that various steps had been taken by administrator to improve the performance of the bank.

DECISIONS TAKEN

* One time settlement scheme started to recover dues worth Rs1,163 crore

* Apex bank MCB allowed making Urban Co-operative Societies.

* MCB will start retail banking business

* MCB will provide expertise to all the co-operative institutes and compete with private banks

* MCB will not allow selling the sugar factories and giving them on 20 years rent. Already six sugar factories rent out

RUPEE BANK

Pune based Rupee Co-operative Bank given the proposal to merge in the MCB confirm administrator Vidyadhar Anaskar. He said that the MCB has decided to support weak co-operative banks and by considering this Rupee bank had submitted the proposal. The decision on it will be taken soon.

MCB also given proposal to appoint the arbitrator from MCB at Yashwant Co-operative Sugar factory instead of appointing administrator from government department.