NASHIK: Those depositors who have deposited their money in Nashik District Central Cooperative Bank (NDCC) will get their money back soon. The Divisional joint registrar has prepared guidelines for the same. He had sent a proposal to the state government for returning deposits of institutions with the bank. The government had directed to prepare guidelines for returning deposits to individuals as well as institutions and had ordered to take its approval.
This has paved the way for returning deposits of institutions that are stuck in the bank. The government had disbursed loan waiver amount under the Mahatma Jotiba Phule farmer loan waiver scheme to three district banks in the state, namely Nashik, Beed, and Osmanabad. NDCC had received Rs. 870 crore as loan waiver. The cooperation department had set the criteria for disbursal of this money.
There was a condition to disburse this fund for the purpose of crop loan only. The government had directed to prepare a proposal for returning deposits to the depositors from the remaining funds and get it approved by the Divisional joint registrar. After disbursal of crop loan, the bank had submitted a proposal to the Divisional joint registrar. However, the joint divisional registrar had stated that the proposal sent by the bank was not as per the government order and had informed that there was no mention of the deposits of the institutions.
Therefore, he had sent the proposal to the Commissioner (co-operation). The department of cooperation has issued a letter directing to plan the disbursal of deposits of institutions after disbursal of individual deposits. It has been ordered to prepare guidelines for returning deposits of institutions after disbursal of individual deposits from the remaining funds. It has also been ordered to make planning for disbursal of deposits with the approval by the registrar. The bank has started to make planning for disbursal of deposits of institutions
