In a significant step aimed at reviving the financially ailing Nashik District Central Cooperative Bank (NDCCB), the Maharashtra State Cooperative Bank (MSCB) has been appointed as its Institutional Advisor by the Cooperative Commissioner, Government of Maharashtra.
The decision was taken during a high-level meeting chaired by Deputy Chief Minister Ajit Pawar on April 23, 2025, to address the grim financial condition of Nashik DCCB, which is currently reeling under accumulated losses of Rs 858.11 crore as of March 31, 2025.
As part of this assignment, MSCB, being the apex institution in the state’s three-tier cooperative banking structure, will extend its technical expertise, manpower, and other resources to support and guide the Nashik DCCB. The initiative is aimed at ensuring financial turnaround and restoring confidence among depositors and stakeholders.
Commenting on the development, MSCB Administrative Board Chairman Vidyadhar Anaskar stated, “As the apex body in Maharashtra’s cooperative banking system, it is our responsibility to support and strengthen DCCBs which act as the crucial link between PACS and the State Cooperative Bank. This move is a proactive and innovative step to stabilize one of the key district banks in Maharashtra.”
Anaskar further said that MSCB will work with Nashik DCCB over the next two years to implement recovery strategies, enhance governance, and ensure long-term sustainability.
The official order, issued by Deepak Taware, IAS, Commissioner for Cooperation and Registrar of Cooperative Societies, reads, “A meeting regarding the functioning of Nashik District Central Cooperative Bank was held under the chairmanship of Hon’ble Deputy Chief Minister (Finance, Planning and State Excise) on 23/04/2025. In this meeting, a decision was taken to appoint the Maharashtra State Cooperative Bank as an Institutional Advisor to NDCCB with the objective of improving its financial condition.”
It further instructs MSCB to offer regular guidance to the Administrator and management of Nashik DCCB and suggest concrete measures for improving the bank’s financial health.
This is not the first time MSCB has been roped in to rescue a struggling cooperative bank. Earlier, it was appointed as Institutional Administrator of Nagpur District Central Cooperative Bank, which is battling an accumulated loss of Rs 290 crore, a gross NPA of 45.11%, and an audit grade of ‘D’.
The appointment of MSCB as Institutional Advisor to Nashik DCCB signals a new era of targeted interventions by the state’s apex bank to stabilize and rejuvenate distressed cooperative institutions across Maharashtra.