Maharashtra Deputy Chief Minister Ajit Pawar criticised Urban Cooperative Banks on Saturday for giving loans to the relatives of their directors. He also said that it was high time the bank directors gain proper knowledge about the working of the banks.
Many chairmen of the banks do not even know the meaning of NPAs (non performing assets or bad loans) and recovery system, he said. Speaking after inaugurating two-day ‘sahakar-parishad’ of the directors of state’s urban co-op banks here, he stressed the need to create trust among the people.
Maharashtra Chief Minister Prithviraj Chavan will be the chief guest at the concluding session of the conference on Sunday.