The Maharashtra State Co-operative Bank:
The Maharashtra State Co-operative Bank (MSC Bank) was originally registered as the Bombay Urban Credit Society on 23.01.1906. The MSC Bank is playing the role of an Apex Bank of the co-operative movement in the Maharashtra State since 1954. It has been helping agricultural credit co-operatives, agricultural processing co-operativesetc.
The main object of the Bank is to “promote, propagate co-operative common-wealth in Maharashtra State through socio-economic transformation by democratic means and co-operative principles.”
Thus, the MSC Bank provides re-finance facility to about 30 District Central Co-operative Banks which primarily cater to the needs of the agricultural sector in the State. The Bank also promotes finance to artisans; Agro-industrial co-operatives especially sugar factories, spinning mills by providing medium term loans as well as interim loans.
The Bank has supported banking facilities to about 340 urban co-operative banks in the State by providing credit limits. The Bank also sanctions working capital to the urban banks. The Bank, thus, has served the co-operative sector and has helped it to achieve sustained growth over last nine decades.
The current position (1999) of the Bank is as follows:
( Rupees in Millions )
Share Capital                      674.6
Reserve Fund                    4725.7
Deposits                           76494.0
Other Funds                      2755.8
Borrowings                      10186.4
Investments                       35216.4
Loans & Advances           50431.7
Properties                              67.3
Profit                                -3789.2 (mainly due to N.P.A. Provisions)
The Bank serves as a balancing centre for the surplus resources of the co-operatives in the State.
Apart from being the biggest State co-operative bank it is also one of the top-ten banks in India. Certainly it is shining example for all co-operatives in the country.
57 Comments