Maharashtra cooperation minister Subhas Deshmukh has said the state govt. will soon initiate a scheme to safeguard fixed deposits of the common people who have deposited their money in the state’s rural credit societies, reports Hindu.
Maharashtra Chief Minister Devendra Fadnavis will launch the scheme today on September 25. The scheme will also cover credit cooperative societies in the State.
The scheme would be called ” Pandit Deendayal Upadhyay Credit Society Deposit Protection Scheme”. It will provide protection to deposits up to RS. 1 lakh with the credit society,
There are 8,421 credit societies in the State with deposits worth Rs. 40,000 crore, which will now be protected under the scheme.