In a significant move to revive the financially struggling Wardha District Cooperative Bank (DCCB), the Maharashtra State Cooperative (MSC) Bank has launched proactive efforts under the leadership of Vidyadhar Anaskar, Chairman of the Administrative Board.
Anaskar has taken a personal initiative by depositing Rs 5 lakh of his own money into the Wardha DCCB, aiming to rebuild trust among the local population.
During a function organized by MSC Bank last week, Anaskar handed over the Rs 5 lakh deposit cheque to the Managing Director of Wardha DCCB. The event was attended by Union Minister of State for Cooperation, Muralidhar Mohol, along with other dignitaries.
Speaking on the occasion, Anaskar urged local residents to deposit their savings with the Wardha DCCB, assuring them that their funds would remain safe under the bank’s renewed management.
The Wardha DCCB has been grappling with a staggering gross Non-Performing Asset (NPA) ratio of over 94%, posing significant challenges to its operations.
Notably, In the 2023-2024 financial year, the bank achieved a total business of over Rs 57,000 crore, recorded a net profit of Rs 615 crore, and maintained zero percent net NPA.
MSC Bank has also been instrumental in providing short-term refinancing support to District Central Cooperative Banks (DCCBs) across Maharashtra.
