Nashik
“If we want to save the troubled Nashik District Cooperative (NDCC) bank, collective efforts are necessary. It is necessary to recover the debt forcefully from the big borrowers,” opined State Food and Civil Supplies Minister Chhagan Bhujbal.
He was speaking in a meeting held in the cell of the state Cooperative Minister in the ministry about the Nashik District Co-operative Bank, which has been in trouble for the past several years.
Bhujbal further said that NDCC bank was once a renowned bank in the country and today it has 11 lakh individual depositors as well as more than 1000 institutional deposits. At one time this bank used to rank second in the credit outlay, but in the meantime, the financial condition of this bank has worsened. At present, this bank is facing a huge loss of 909 crore.
NABARD has notified NDCC about the cancellation of the banking licence. Therefore, it is necessary to increase the capital adequacy of the bank. The district bank should prepare a comprehensive action plan to stop the process of cancellation of banking license and the state government should submit this proposal to NABARD with a guarantee regarding the share capital, ordered Cooperative Minister Dilip Valse-Patil.
Bhujbal also suggested that the appointment of an administrator should be maintained for at least the next five years and some efforts should be made to enable borrowers to do OTS.
Guardian Minister Dada Bhuse, Deputy Speaker Narhari Zirwal, MP Hemant Godse, MLA Hiraman Khoskar as well as upper chief secretary of cooperative department Rajesh Kumar and others were present.
