MSCB unaware of RBI move: Ajit Pawar

Deputy chief minister Ajit Pawar on Tuesday said the management of the Maharashtra State Co-operative Bank (MSCB) had no inkling about the Reserve Bank of India’s (RBI) decision to dissolve the bank’s board of directors.

Speaking to reporters in the city after attending a review meeting of kharif season with the Pune district administration, he said, “If the central bank had informed us earlier of such an action, we would have taken steps to prevent it.”

The RBI dissolved the board of the bank on May 7 due to its dire financial condition. The move has unruffled the Nationalist Congress Party (NCP) leadership, as a majority of the directors belong to the party, who have termed the action as
“politically motivated to defame the NCP”.

Pawar said he would be scrutinising the bank papers on Wednesday before making any statement to the media.

“The bank chairman, Manikrao Patil, is examining the documents today. It would be unwise for me to make any comment at this juncture,” he said.