NAGPUR: The Maharashtra government on Tuesday decided to amend the Maharashtra Co-operative Societies Act, 1960, to prevent scams in various cooperative banks and societies which lead them to bankruptcy, costing the common man his heard earned money. This decision was announced by cooperation and parliamentary affairs minister Harshawardhan Patil while replying to a debate in the upper house under
Maharashtra legislative council rule 97 on a massive scam in Raigad-based Penn Urban Co-operative Bank.
Patil declared that the directors of such banks and societies would be held accountable for such swindles and they will be prohibited from working anywhere. The minister informed that the state has 635 cooperative banks, the highest in India.
The question was raised by MLC Jayant Patil and others, expressing concern over a slew of scams in these banks, which led to suffering for innocent people. They pointed out that the depositors had no insurance if the bank collapsed. The minister said that they were contemplating an amendment to Section 420 of IPC so that offenders in such cases should get maximum punishment and their properties should be seized. He assured that criminal offences would be lodged against Penn bank directors too.
Courtesy : The Times of India
No comments:
Post a Comment