Following cooperative officials’ intervention, Chairman of the Administrative Board of Maharashtra State Cooperative (MSC) Bank, ML Sukhdeve withdrew his resignation, reports Mumbai Mirror.
Sukhdeve had resigned recently over difference of opinion with three other directors who are political appointees and close to Bharatiya Janata Party and Sangh Parivar.
Sukhdeve is said to be responsible for the turnaround in the bank’s fortunes.
In former days when the bank’s financial situation turned critical with its massive NPAs, the RBI superseded the bank’s board in 2011, and since then the bank is being controlled by the state government.