The State Transport Cooperative Bank, one of Maharashtra’s largest salary earners’ cooperative banks with over 60,000 members and working capital of Rs 2,480 crore, is undergoing a forensic audit and detailed examination of its financial transactions, Cooperation Minister Babasaheb Patil informed the Maharashtra Assembly.
Replying to a question raised by MLA Omprakash alias Bacchu Kadu, Patil said action has already been initiated against certain officers and employees, including suspension and dismissal, while scrutiny of the bank’s financial dealings continues.
The minister said the bank is planning to extend a 0.5% concession in loan interest rates to differently-abled members. He also clarified that the medium-term loan limit is Rs 12 lakh, while emergency loans are available up to Rs 5 lakh.
According to the reply, the bank recorded an increase of Rs 31.84 crore in deposits till May 2026 and has a membership base of 60,234.
To strengthen its operations, the bank is focusing on improving deposit mobilisation, loan recovery and member outreach. A guardian officer appointed by the Cooperative Department has been overseeing measures related to recovery, CASA deposit growth, implementation of CIBIL and CERSAI systems, and other operational improvements since June 2025.