Maharashtra State Cooperative (MSC) Bank, intends giving funds directly to Primary Agriculture Credit Societies (PACs) in order to ease financial problems being faced by district central cooperative banks in the state, reports Financial Express.
MSC Bank is the highest body for DCCBs with their 3,746 branches as well as 2.21 lakh PACS across the state.
A source is quoted saying at least about a dozen financially beleaguered DCCBs in the state are incapable of carrying out their normal functions including lending to PACS.