The Maharashtra government has greenlighted its offices to carry out transactions with the Maharashtra State Cooperative Bank, media reports say. The govt has also approved investments to be done by state government PSUs in the bank.
Sources say, the govt. has taken these decisions taking the bank’s performance in the cooperative sector into consideration.
The bank’s net worth is more than Rs 4,000 crore and it has been posting profits for the past five consecutive years.
Sources say that In the cabinet meeting, deputy chief minister Devendra Fadnavis expressed his unhappiness over MSCB being allowed to transact with the government and questioned why a district cooperative bank like the Mumbai Cooperative Bank (MCB) was not permitted to. MCB is under the control of BJP leader Pravin Darekar.