The ailing Nagpur District Central Cooperative Bank expects the state government to pitch in with a substantial bailout package. Experts say the bank would need scores of crores for revival.
Sources say the bailout package would be announced as soon as the parliamentary poll is over. It bears repetition that way back in 2000, gilts scam had broken seriously affecting the financial situation of both Nagpur district central cooperative bank and Wardha district central cooperative bank.
The buzz in cooperative circles is that Nabard is likely to undertake a snap audit so as to enable the govt to rework its bailout package.