Choose directors from small depositors

The buzz is that the central govt. has agreed to offer the three beleaguered district central cooperative banks in Nagpur, Wardha and Buldhana a conditional package to bail them out of their trouble.

In order to qualify for the special package, the banks have to ensure one third of their directors are chosen from among small depositors.

Cooperative sources say the central govt has approved a Rs. 2000 crore package for such unlicensed cooperative banks across the country.

There are 23 banks altogether including 3 in Maharashtra, sources inform.