A cooperative bank in Nagpur in Maharashtra with a link with the BJP that had slid into a serious crisis incurring losses to the tune of more than fifty crore has suddenly bounced back.
The Shikshak Sahakari Bank has been claiming substantial profits for the last three years. The bank is without a doubt a going concern now.
It is remarkable that the bank has survived to tell the tale. Its woes began in 2000s when it botched up lending and got a mass of flak from the RBI.
The bank had shrinkage of the depositors’ confidence and its very existence hung by a thread.
The bank solely catering to the teaching community was established in the 70s.
