Maharashtra State Cooperative Bank (MSCB) opened its 50th branch at Osmanabad district of Maharashtra which was inaugurated by the State Cooperative Minister Subhash Deshmukh last weekend.
Besides Deshmukh, Chairman of the Administrative Board of MSC Bank Vidyadhar Anaskar, Member of the Administrative board A.L.Mahagaonkar, Sanjay Bhende and officials of the bank were present on the occasion.
In his speech, Deshmukh said ” we are trying to make reforms in the cooperative sector. In this context, we have decided to establish a cooperative university soon in Solapur. I would strongly suggest, the bank should help farmers on a priority basis, he said.
Readers would recall that earlier, the Bank had opened its 49th branch at Golani Market in Jalgaon which was inaugurated by the Maharashtra Revenue Minister Chandrakant Patil.
Sharing the news through social media, Deshmukh wrote on his facebook wall “Today inaugurated the branch of Maharashtra State CooperativeBank at Osmanabad. Interacted with the attendees”, he added.
The MSC Bank has a business mix of Rs 32,000 crore and a reserve fund of about Rs 3700 crore. In the last FY 2017-18, the bank earned a net profit of Rs 245 crore and had a Net NPA 2.4%.These figures were revealed during the previous AGM.
Maharashtra is India’s leading state in terms of the network of co-operatives. The MSC Bank is an apex body of 31 DCCBs which have about 3,667 branches, with a third tier of around 21,214 Primary Agriculture Credit Societies (PACS) which directly lend money to farmers and the rural population.