Strengthening weak DCCBs: Sah Bharati collaborates with MSCBA

In a bid to strengthen the weak District Central Cooperative Banks of Maharashtra, Sahakar Bharati in collaboration with Maharashtra State Cooperative Banks Association (MSCBA) organized a meeting last week in Mumbai, Maharashtra.

The meeting was attended by the representatives of eight-district central cooperative banks, among others and it was chaired by MSCBA Vice-Chairman Vasantrao Ghuikhedkar.

During the meeting, the representatives held a discussion on reviving and rehabilitating the weak DCCBs.

Talking to the Indian Cooperative, Ghuikhedkar said, “There are around eight DCCBs including Aurangabad, Beed, Osmanabad, Nashik and others whose financial position is deteriorating. We will work to make a draft proposal for reviving the weak DCCBs and bringing them out of the red”.

“Following detailed deliberations, a Committee was constituted to formulate a Draft Proposal for Revival/Rehabilitation of these DCCBs”, he added.

The Committee is composed of Nashik DCCB Administrator Pratapsinha Chavhan, Buldana DCCB CEO Ashok Kharat and Solapur DCCB CEO Vilas Desai. The committee has been asked to submit its report by 15th September 2023.

The recommendations of the Committee will be further deliberated upon and a Memorandum would be submitted to Maharashtra Deputy Chief Minister Ajit Pawar, Cooperation Minister Dilip Walse Patil, Union Finance Minister Nirmala Sitharaman, and Union Cooperation Minister Amit Shah.

It is said that the memorandum would also be submitted to NABARD & NCDC and their support would be sought to strengthen DCCBs in Maharashtra.

One of the participants, Buldana DCCB CEO Ashok Khara said, “There are a few DCCBs in the state which are facing the liquidity crunch and it is an urgent need to revive them with an objective to help the farmers. The committee will prepare its report on reviving the ailing DCCBs and will submit it to the government for further action”.

In convening the meeting, Sahakar Bharati one of the founder members and RBI Central Board Director Satish Marathe took the lead from the front and later on posted the details through social media.

Readers would recall that recently a meeting of representatives of Osmanabad, Nashik, Yavatmal, Buldana DCCB, Solapur and others, in which the representatives of MSC Bank were also present, was held in the presence of Maharashtra Deputy Chief Minister Ajit Pawar. During the meeting, it was decided on how to make liquidity available to the ailing DCCBs and in this regard MSC Bank has been asked to submit the proposal.

There are 31 DCCBs in the state out of which around 9 DCCBs’ financial condition is not good. These banks all together have more than 3600 branches.