According to the HT reports, Maharashtra State Cooperative Bank (MSCB) is not willing to give funds any further to financially beleaguered sugar factories in the state including those controlled by NCP and Congress leaders.
The bank has mentioned financial constraints and sugar factories’ non-compliance with required documents as reasons for its decision.
It bears recall that the bank had earlier given Rs 632 crore in loans to five factories controlled by NCP and Congress politicians. It is said that the bank’s decision has meant putting six more proposals for loans on hold.