Vidyadhar Anaskar Chairman of the administrative board of the Maharashtra State Cooperative Bank (MSC) is quoted saying the bank notched up a total turnover of Rs. 35,440 crore the highest in its 108 year history.
The bank has earned a net profit of Rs 251 crore, compared to Rs 201 crore last year. In addition, the total share capital of the bank at the end of the financial year 2018-19 stood at Rs 544.85 crore.
The bank provides 31 District Central Cooperative Bank (DCCB) with re-finance for short duration crop loans to farmers and working capital to 53 sugar mills.
The Maharashtra State Cooperative Bank (MSC) has also decided to change its name to the Maharashtra State Apex Cooperative Bank to “reflect its status”. It will also form a grievance redressal mechanism with a view to avoiding complicated legal processes, reports Indian Express.