DDRs and ARs of co-ops would be held responsible

Maharashtra cooperative minister said deputy district registrars (DDRs) and assistant registrars (AR) of co-operatives department would be held responsible for financial irregularities occurring in District Central Co-operative (DDC) banks and Agriculture Produce Marketing Committees (APMC), reports Times of India.

The minister said this after attending a meeting of the cooperative dept.

The minister added while the DDR is an ex-officio director on the DDC board panel, the AR an ex-officio director on the APMC board panel. However, most of them do not attend their meetings.

According to the minister, many co-operative banks and credit societies are facing trouble due to financial irregularities by the directors of the banks. The state govt. have fixed responsibility of Rs 250 crore on directors of the financially troubled co-operative banks and co-operative credit societies across the state in the past two years, the minister claimed.

It is worth mentioning that Maharashtra Cooperative Development Corporation (MCDC) was established several years ago to provide funding to cooperative institutions, but it has been lying defunct.

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