The Kolhapur district central bank will soon hold its poll and be through with it by 20th February. The bank’s management board had got the chop when there were allegations of irregularities in the central govt’s loan waiver scheme, a report in TOI claims.
The bank claims an annual turnover of Rs. 12,000 crore. The bank slid into a serious financial crisis when the previous management sanctioned loans that were not adequately hedged. Most of the board members had political leanings towards the Congress and the NCP.
Only those cooperative societies and institutions that have submitted their resolutions for voting to the assistant registrar’s office and do not have to repay loans to the bank will be eligible for voting.