The Reserve Bank of India’s decision to dissolve the board of directors of the Maharashtra State Co-operative Bank (MSCB) seems to have widened the fissures within the ruling alliance. While the NCP’s Manikrao Patil is chairman of MSCB, which was founded in 1911, Deputy Chief Minister Ajit Pawar is one of the directors. Congress’s Balsaheb Sarnaik is vice-chairman of the bank which has directors from across political parties.
Speaking to reporters in Satara, Ajit Pawar said the RBI decision seemed to be politically motivated. “RBI is a national organisation. There was no need to take a sudden decision. The decision seems to have been taken at the political level in Delhi. If the CM had known about it, it is usually discussed with other partners. But nothing of the sort happened. Even a notice was not issued to the MSCB,” said Pawar.
NCP sees politics in RBI move to dissolve co-op bank board - Indian Express
Speaking to reporters in Satara, Ajit Pawar said the RBI decision seemed to be politically motivated. “RBI is a national organisation. There was no need to take a sudden decision. The decision seems to have been taken at the political level in Delhi. If the CM had known about it, it is usually discussed with other partners. But nothing of the sort happened. Even a notice was not issued to the MSCB,” said Pawar.
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Speaking to The Indian Express, Manikrao Patil said: “This was a surprising decision. It was not expected from RBI to issue such notice without consulting the Board.” He added that the bank had sought guidance from RBI about certain issues but had received this notice in return. “If a co-operative bank is treated in this manner... then repercussions will be felt in the co-operative sector,” Patil said.Exporter of Hookloader Oil Tank
NCP sees politics in RBI move to dissolve co-op bank board - Indian Express
