In a bid to strengthen financial inclusion and expand its grassroots presence, the Maharashtra State Co-operative Bank (MSC Bank) has formally approached the Nabard, seeking permission to open new Deposit Collection Centres and branches within the operational areas of financially strong and weak District Central Cooperative Banks (DCCBs) across Maharashtra.
In a detailed letter addressed to the Chief General Manager of NABARD’s Maharashtra Regional Office, MSC Bank Administrator Vidyadhar Anaskar underscored the institution’s role as the apex cooperative bank in the state’s three-tier cooperative credit structure.
He reiterated that the bank functions as a financial stabilizer for the cooperative sector, facilitating the equitable distribution of surplus resources and contributing to the sector’s holistic development.
Linking the request with the ongoing celebration of International Co-operative Year – 2025, themed “Co-operatives Build a Better Future for All”, Anaskar stated that the bank is committed to furthering the socio-economic transformation of both rural and urban communities. He said the proposed expansion would deepen cooperative penetration at the village level, widen the customer base, and bring banking services to financially excluded populations.
Highlighting the disparity in regulatory permissions, Anaskar noted that while commercial banks, small finance banks, private sector banks, and urban cooperative banks can open branches freely, MSC Bank continues to face limitations despite its sound financial standing and developmental mandate.
To address this imbalance, the bank has urged NABARD to advocate with the Reserve Bank of India to permit MSC Bank to open branches in areas served by financially weak DCCBs, and to establish Deposit Collection Centres in regions where DCCBs are financially strong, thereby enhancing service delivery and institutional outreach.
The bank has also submitted a comprehensive Concept Paper and Research Proposal along with its request and expressed hope for NABARD’s favorable consideration at the earliest.