Has the Maha Cabinet Approved Rs 827 Crore for DCCBs?
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Synopsis
In a significant move, the Maharashtra Cabinet has approved Rs 827 crore to bolster the share capital of three vital District Central Cooperative Banks. This financial support aims to enhance the banks' capacity to provide crucial crop loans to farmers and ensure their operational stability. Discover the implications of this decision for local agriculture and banking.
Key Takeaways
- Maharashtra Cabinet approves Rs 827 crore for DCCBs.
- Funds allocated for crop loans to farmers.
- Nashik DCCB receives Rs 672 crore.
- Security enhancement with 8,282 guards for courts.
- Approval of Rs 443.24 crore for security salaries.
Mumbai, Nov 11 (NationPress) The Maharashtra Cabinet, led by Chief Minister Devendra Fadnavis, has sanctioned a substantial amount of Rs 827 crore to be allocated as share capital for the Nashik, Nagpur, and Dharashiv District Central Cooperative Banks (DCCBs) on Tuesday.
The distribution of funds includes Rs 672 crore for Nashik DCCB, Rs 81 crore for Nagpur DCCB, and Rs 74 crore for Dharashiv DCCB.
This decision follows a communication from the Reserve Bank of India regarding the recapitalization and revitalization of these banks.
As a result, the Cabinet endorsed the financial support as share capital for all three institutions today. The DCCBs play a crucial role in disbursing crop loans to farmers, and their operational stability is vital for the health of service development entities.
Thus, the government has approved a total of Rs 827 crore in share capital for Nashik, Nagpur, and Dharashiv DCCBs, according to the government release.
Additionally, the Cabinet sanctioned the release of Rs 336 crore from Nashik DCCB for the current fiscal year and another Rs 336 crore for the 2026-27 period. Currently, both Nashik and Nagpur DCCBs are under administrative control, while Dharashiv DCCB operates with a board of directors.
However, as the situation at Dharashiv DCCB continues to decline, the Cabinet approved directives for the Cooperative Commissioner to dissolve its board and appoint an administrator, as stated in the release.
Moreover, the Cabinet also endorsed hiring 8,282 additional security guards to enhance security at court premises and the residences of judges and magistrates across the state. These security personnel will be sourced through the Maharashtra State Security Corporation (MSSC).
Of the total, 4,742 security guards will be designated for court facilities, while 3,540 security guards will be assigned to the residences of judges. The Cabinet also approved Rs 443.24 crore for the salaries of these security personnel.
A government release noted that a public interest litigation was filed in the Aurangabad Bench of the High Court - Chhatrapati Sambhajinagar concerning security measures in state courts. The High Court directed the government to formulate a policy decision on the matter.
Subsequently, the Home Department and the Law and Justice Department conducted a security review and submitted their findings to the government after comprehensive discussions.
In alignment with the review, it was concluded to provide manpower in the initial phase, followed by necessary equipment in the subsequent phase. Security personnel will be deployed across the Mumbai High Courts, including its Benches, Kolhapur Circuit Bench, District Courts, and various other courts throughout the state, along with the residences of judges.
Point of View
This decision by the Maharashtra Cabinet reflects a proactive approach to revitalize local banking systems that are crucial for agricultural finance. Ensuring the stability of District Central Cooperative Banks not only supports farmers but also fosters economic growth in rural areas, which is pivotal for the country's overall development.
NationPress
11/11/2025
Frequently Asked Questions
What is the purpose of the Rs 827 crore allocation?
The allocation aims to enhance the share capital of Nashik, Nagpur, and Dharashiv District Central Cooperative Banks to support their revival and ensure they can provide essential crop loans to farmers.
How will the funds be distributed among the DCCBs?
The funds will be distributed as follows: Rs 672 crore to Nashik DCCB, Rs 81 crore to Nagpur DCCB, and Rs 74 crore to Dharashiv DCCB.
What is the current status of the DCCBs?
Nashik and Nagpur DCCBs are under administrative control, while Dharashiv DCCB has a functioning board of directors. However, the condition of Dharashiv DCCB is worsening.
What additional measures were approved by the Cabinet?
The Cabinet approved the hiring of 8,282 security guards for court premises and judges' residences, along with the allocation of Rs 443.24 crore for their salaries.
Why was there a need for additional security guards?
The need arose following a public interest litigation regarding security measures in state courts, prompting the High Court to direct the government to improve security protocols.
