Maharashtra approves Rs 827 crore aid for three district banks

The Maharashtra cabinet on Tuesday approved a share capital infusion of Rs 827 crore for three district central cooperative banks — in Nashik, Nagpur, and Dharashiv — to strengthen their financial base and ensure continued credit flow to rural areas.

The decision, taken at a meeting chaired by Chief Minister Devendra Fadnavis, aims to recapitalise these banks following recommendations from the Reserve Bank of India (RBI) regarding their financial revival.

Of the total approved amount, Rs 672 crore will be allocated to the Nashik District Central Cooperative Bank, Rs 81 crore to the Nagpur bank, and Rs 74 crore to the Dharashiv bank, according to an official statement.

In addition to the financial package, the cabinet also cleared proposals related to judicial security measures and gave the go-ahead for irrigation projects in Hingoli district, as part of broader efforts to improve governance and infrastructure across the state.