In a bid to revive the Maharashtra State Co-operative Bank Ltd (MSC), whose board of directors was dismissed by the Reserve Bank of India (RBI) in May this year, the Chief Minister Prithviraj Chavan has said that the bank should follow the guidelines of the apex bank strictly while conducting its operations.
He also said the state government would support the bank in appointing a new board of directors.
“If the bank has to function properly it should follow the guidelines laid down by the RBI strictly,” Chavan said speaking at the concluding function of the Centenary year of
the MSC bank at YB Chavan centre in Mumbai.
The RBI after dismantling the MSC board had appointed state government’s agriculture secretary Sudhir Goel and planning secretary Sudhir Shrivastav as administrators.
Chavan also said, “the government would lend its support to the bank to appoint a new board of directors. Whatever errors were committed should be accepted and rectified.”