Share This News

Nagpur, Dec 16 – Maharashtra Deputy Chief Minister & Finance Minister Ajit Pawar on Friday gave instruction to the Departments of Finance, Planning and Cooperation to take coordinated steps to restore distressed District Central Cooperative Banks.

Presiding over a review meeting of troubled central cooperative banks in the committee room of state
Assembly, he said that to protect financial interests of farmers and depositors, it is necessary to remove the problems of the District Central Cooperative Banks of Nashik, Beed, Nagpur, Wardha, Buldhana and bring them into good condition.

Therefore, strict action should be taken immediately in necessary cases with the help of Maharashtra State Co-operative Bank, he stressed.
Speaking further, he instructed to appoint good administrators in Wardha and Buldhana District Central Co-operative Banks to improve their financial condition.

he said that action should be taken against chief executive officers and administrators who caused this condition of the banks. Also, assets of defaulting borrowers of banks should be confiscated along with fixation of responsibility on the guilty directors, he added.

Pawar also directed that banks should take action to recover the losses by auctioning their assets.