The apex body of state co-op banks, Maharashtra State Cooperative (MSC) Bank opened a new branch at Golani Market in Jalgaon on Saturday. It was inaugurated by Maharashtra Revenue Minister Chandrakant Patil who was invited as the chief guest.
Besides Patil, State Cooperative Minister Subhash Deshmukh, Minister of State for Cooperation Gulabrao Patil, Chairman of Administrative Board of MSC Bank Vidyadhar Anaskar, Member of Administrative board A.L.Mahagaonkar, Sanjay Bhende, officials of bank and others were present.
Speaking on the occasion State Revenue Minister Chandrakant Patil lauded the role of state cooperative bank for doing praiseworthy work in the interest of farmers. The business of bank as increased upto 30 thousand crore which is commendable.
In his presidential address State Cooperative Minister Subhash Deshmukh urged the state cooperative bank to expand its network in rural areas and open innovative branches. MSC bank should train the members of different cooperatives.
Meanwhile, Chairman of Administrative board Vidyadhar Anaskar informed that though there is a branch in each district, the bank plans to open more branches in future. “Policy of giving priority to the farmers and to the poor section of society would continue, he added.
The apex bank is also working on plans to revive the ailing DCCBs of state, one of which is making them business correspondents of the MSC Bank.
MSC Bank is having a business mix of Rs 32,000 crore and having a reserve fund of about Rs 3700 crore. In last FY 2017-18 bank earned a net profit of Rs 245 crore and having a Net NPA 2.4%, these figures were revealed during the AGM that had been organized several month back.
Maharashtra is India’s leading state in terms of the network of co-operatives. The MSC Bank is an apex body for 31 DCCBs which have about 3,667 branches, with a third tier of around 21,214 Primary Agriculture Credit Societies (PACS) which directly lend to farmers and the rural population.
