In the run up to the election of Maharashtra based Nashik Merchants’ Cooperative Bank, after scrutiny and withdrawal, a total of 82 candidates are in the race.
Giving the details Milind Bhalerao, Divisional Joint Registrar, Cooperative Societies and Returning officer said to this correspondent, “Total 82 candidates are now left in the fray; 70 from the general category, 5 from SC/ST category and 7 from women category”.
The much-touted election of the Nashik Merchants’ Cooperative Bank is slated for 23rd December 2018. The final list of candidates left in the fray was declared last week.
“The members of the bank are entitled to vote in the election of 21 candidates i.e. 18 from General category, 1 from SC/ST category and 2 from women category”,he added.
There are three panels including Pragati Panel, Sahakar Panel and Namrata Panel contesting the election.
About 1.76 lakhs members are eligible to cast votes during the election. According to the election program, “Polling and counting of votes would be held on 23rd December 2018 and 26th December 2018 respectively. The result would be announced on 28th December.
In all 328 nominations were filed in different categories but only 200 nomination papers were found valid during the scrutiny.
It bears recall that in 2014 the Reserve Bank of India (RBI) had appointed an administrator in the bank following revelation of lapses in its management. Presently, Retired RBI official J B Bhoriya is the Administrator.
Nashik Merchant’s Cooperative (NAMCO) Bank was established on 11 June 1959 and is having 81 branches across Maharashtra, Gujarat and Telangana.
The Bank has a total deposit of about Rs 1486.29 crore whereas loans and advances count about Rs 849.08 crore. The Bank has earned a net profit of Rs 25 crore in the FY 2017-18 where as in the FY 2016-17 it earned a net profit to the tune of Rs 37.68 crore.