The MSC Bank is supposed to finance cooperative bodies like sugar mills and spinning mills on the basis of guarantees from the government.
Media reports say the special committee constituted for the purpose held its first meeting in Mumbai recently. The principal secretary (finance) who chairs the committee will give his report to the government soon.
It is said the committee will also examine the payment due to the bank for the loans it had given to the Nanded and Osmanabad District Cooperative Banks.
