Nagpur District Central Cooperative Bank’s board finally resigned paving way for resuscitation of the beleaguered cooperative bank. Its stubborn board waited till last for the green signal from the congress leader and former Chairman Mr Sunil Kedar for folding up its tent.
With this the road to infuse fund and revive the bank has brightened up. A three member panel headed by the Joint Registrar of the cooperatives would look after the affairs of the bank till elections are held and a new board is constituted.
It is being said that Maharashtra Chief Minister Prithviraj Chavan deliberately delayed the dissolution of the board as he wanted the election code of conduct to come up on the scene. Now it would require election commission’s permission for offering any financial package needed to revive the co-op bank.
It was Chavan’s way of avenging Kedar who lobbied hard earlier against Chavan’s continuance as the CM.
Meanwhile the employees of Zila Parishad and over 28,000 teachers do not know what to do as their deposits are locked in the cooperative bank.
The Congress leader Kedar is accused of bleeding the bank to death by indulging into large-scale bungling during in chairmanship.