The change of the guard in Madhya Pradesh has meant suspending the boards of District Central Cooperative Banks.
The recent case is related to Damoh Zila Sahkari Bank where the ruling Congress government has suspended the board, though the board completes its tenure after three months. In other words, the bank’s President Rajendra Guru and others directors have been removed from their positions.
Deputy Commissioner of Cooperatives, Jabalpur, P K Siddharth has been appointed as the administrator in the bank so that the bank’s activities do not grind to a halt.
Soon after the formation of the government, the process of suspending the boards began. Besides Damoh DCCB, 37 other DCCBs’ boards have already been suspended.
Meanwhile, Damoh DCCB General Manager SK Shukla said, the board has been suspended and now a new governing body will be formed in September. After the formation of a new governing board, a new President will be elected.
It to be noted that there are 38 DCCBs in Madhya Pradesh.