The BJP govt in Maharashtra is likely to weaken the Congress-NCP’s hold on rural institutions through its decision to give farmers taking loans from district central co-operative banks voting rights to elect the board of directors of DCCBs, reports Times of India.
Sources familiar with the cooperative world say the dethronement of the Congress NCP combine from power in the cooperative sector will have considerable political consequences.
DCC banks are major rural lending institutions which disburse nearly 40-45% of all crop loans in the state.
There are 30 DCC banks in the state, most of them controlled by the Congress-NCP. The cumulative deposits with the DCC banks amount to Rs 66,000 crore.