Vidyadhar Anaskar has been appointed as the Chairman of the Administrative Board of Maharashtra State Cooperative (MSC) Bank on Tuesday. Pune Cooperative commissioner Dr Vijay Zade has ordered the appointment of Anaskar.
The position was vacant for more than a month after the former Chairman of the Administrative Board of Maharashtra State Cooperative (MSC) Bank M L Sukhdeve handed over his resignation to the commissioner of cooperatives.
A.L.Mahagaonkar, Director, Solapur based Lokmangal Multi State Cooperative Society and Sanjay Bhende, Founder Chairman Nagpur Nagarik Sahakari Bank are appointed as committee members of the Administrative Board of MSC Bank to help Anaskar.
Sukhdeve had resigned on April 7 over his difference of opinion with three other directors who are political
appointees and considered to be close to Bharatiya Janata Party and Sangh Parivar, reports Mumbai Mirror.
NABRAD ex CGM M L Sukhdeve is credited with turning around the bank whose losses stood at Rs 776 crore in the financial year 2009-10.
The state follows a three-tier banking system; there are credit cooperative societies at village, level, then there are district cooperative banks at district level, and MSC Bank works as an apex bank for all district cooperative banks. There are 31 District Central Cooperative Banks (DCCBs) in Maharashtra with more than 3 thousand branches.
The Maharashtra State Co-operative Bank’s total business is 27,870 crore and the working capital is Rs. 30 thousand crore. Last year, the bank had earned a net profit of Rs 245 crore and and given 10 per cent dividend to its member banks.
Anaskar is also the Vice-President of NAFCUB and Chairman of Pune based Vidya Sahakari Bank.
Anaskar’s oppointment on MSCo-opBank as a Chairman on administrative board and Vice Chairman Mr Bhende from Nagput is a good news.
Let us hope positive recovery of bad loans in their regime. Also finance low cost fund to Urban Co-op. Bank’s.