Maharashtra’s 508 cooperative banks are cash strapped in the wake of demonetization of higher currencies in the country, reports Indian Express.
With a little over 2.5 crore customers, these cooperative banks are popular among the lower and middle classes.
Meanwhile, Maharashtra Urban Cooperative Bank’s Federation has taken up the matter with the RBI.
Mukund Abhyankar has, meanwhile claimed Cosmos Cooperative Bank is has disbursed closed to 90 crore to its depositor since the crisis started.