Embarrassed Chief Minister of Maharashtra Devendra Fadnavis was quick to revoke the directive aimed at merger of co-op banks. He also ensured that a revised order was issued.
It bears recall that Maharashtra govt has formed a eight-member committee to examine a proposal for merger of loss making district central cooperative banks with the Maharashtra State Cooperative Bank.
The cooperation department says “60% of the farmers across the state are completely dependent on district central cooperative banks for agriculture loans.
It is found that they have failed to meet their demands, resulting in an agrarian crisis. Under such circumstances, the only option is to merge these banks with the apex bank to tackle the demands of the farmers.