The crisis-ridden Goa State Cooperative Bank (GSCB), the state’s apex cooperative bank may improve its situation if it ceases operations in Daman and Diu. But the BJP-led government has yet to take a decision in the matter, reports Times of India.
Sources say the delay in taking s decision is mainly due to the government’s reluctance to change the structure of the bank’s board of directors.
While the Daman and Diu administration has completed the formalities, it is the Goa government that has failed to fulfill crucial conditions required for the bifurcation.
The board has political leanings and if the bank is reconstituted, the board will have to go, and the government does not want that before the elections,” a source close to the bank revealed.