Sanjay Raut writes to Amit Shah over alleged injustice to Maharashtra cooperative sector
Synopsis
Shiv Sena (UBT) MP Sanjay Raut has accused the Centre of seizing Apex Urban Co-operative Bank assets without member consent and passing the NUCFDC Amendment Bill without adequate debate — writing to Amit Shah in Marathi to ensure Maharashtra's cooperative banking community understands what he calls a deliberate injustice against the state's cooperative movement.
Key Takeaways
Sanjay Raut wrote to Amit Shah on 20 August 2026 over the NUCFDC Amendment Bill, 2026 and the Mumbai office inauguration.
Raut alleged the Bill was passed during the Monsoon Session without adequate discussion or member consent.
The NUCFDC office in Mumbai was inaugurated on 8 August 2026 on premises formerly housing the Apex Urban Co-operative Bank of Maharashtra and Goa .
NUCFDC is registered in Delhi as an NBFC with no Maharashtra representation on its Board of Directors, despite drawing capital from the state.
Transfer order details are reportedly absent from the Ministry of Cooperation and Central Registrar websites.
Pending recovery claims against Madhavpura Mercantile Cooperative Bank remain before the Supreme Court .
Shiv Sena (UBT) Rajya Sabha MP Sanjay Raut has written to Union Home and Cooperation Minister Amit Shah, raising sharp objections over the passage of the National Co-operative Development Corporation (Amendment) Bill, 2026 and the inauguration of the National Urban Co-operative Finance Development Corporation (NUCFDC) office in Mumbai. The letter, dated 20 August 2026, was copied to Chief Minister Devendra Fadnavis and Nationalist Congress Party (NCP) President Sharad Pawar.
The Core Allegations
Raut alleged that the Amendment Bill was passed hastily during the Monsoon Session of Parliament without adequate discussion or scrutiny. He further claimed that through NUCFDC, the property of the Apex Urban Co-operative Bank of Maharashtra and Goa had been seized without the consent of its members — a move he described as a direct attack on Maharashtra's cooperative movement.
Notably, Raut chose to write the letter in Marathi, stating he did so deliberately so that the public could understand how, in his words, 'injustice is being perpetrated' against Maharashtra's urban cooperative banking sector.
The NUCFDC Office Inauguration
Raut questioned the inauguration of the NUCFDC office on 8 August 2026 in Mumbai, pointing out that the premises previously served as the headquarters of the Apex Urban Co-operative Bank of Maharashtra and Goa — an institution funded by local cooperative entities. He argued that Maharashtra's cooperative bank members were neither consulted nor asked for consent regarding the premises allocation.
He also flagged that details of the transfer orders are absent from the websites of the Ministry of Cooperation and the Central Registrar of Cooperative Societies, raising transparency concerns.
Structural Concerns Over NUCFDC
Raut pointed out that NUCFDC is structured as a Non-Banking Financial Company (NBFC) registered in Delhi, with no representation from Maharashtra's urban cooperative banks on its Board of Directors, despite drawing substantial capital from the state. He called this a governance anomaly that disadvantages Maharashtra's cooperative sector.
Apex Bank Liquidation and Pending Claims
The Apex Bank has reportedly been in liquidation for several years, with member societies still awaiting asset distribution. Raut cited pending recovery claims against Madhavpura Mercantile Cooperative Bank currently before the Supreme Court as part of the unresolved financial web surrounding the sector.
What Raut Has Demanded
Raut urged the Ministry of Cooperation to make all administrative decisions and documentation regarding the transfer of Apex Bank assets public in the interest of transparency. The Centre has not yet responded publicly to the letter. How the Ministry addresses these objections — particularly on board representation and asset transfer transparency — will be closely watched by Maharashtra's cooperative banking community.
Point of View
It is clearly aimed at Maharashtra's cooperative banking constituency ahead of any future electoral contest. The substantive concern, however, deserves scrutiny: if NUCFDC draws capital from Maharashtra's cooperative banks but has no board representation from the state, that is a structural governance gap the Centre should address on the merits. The opacity around asset transfer documentation — if confirmed — compounds the problem. The broader pattern of centralising cooperative sector regulation, accelerated since the Ministry of Cooperation was carved out in 2021, has repeatedly drawn state-level pushback; Raut's letter is the latest, but unlikely to be the last.
NationPress
22 Aug 2026
Frequently Asked Questions
What is Sanjay Raut's objection to the NUCFDC Amendment Bill, 2026?
Raut alleges the National Co-operative Development Corporation (Amendment) Bill, 2026 was passed hastily during the Monsoon Session of Parliament without adequate discussion or the consent of cooperative bank members. He claims the legislation enabled the seizure of Apex Urban Co-operative Bank assets without consulting Maharashtra's cooperative banking community.
What is NUCFDC and why is it controversial?
The National Urban Co-operative Finance Development Corporation (NUCFDC) is a Non-Banking Financial Company registered in Delhi, set up to oversee urban cooperative banking assets. It is controversial because, according to Raut, it has no representation from Maharashtra's urban cooperative banks on its board despite drawing substantial capital from the state.
What happened to the Apex Urban Co-operative Bank of Maharashtra and Goa?
The Apex Urban Co-operative Bank of Maharashtra and Goa has reportedly been in liquidation for several years, with member societies still awaiting asset distribution. Its former Mumbai headquarters was used as the site for the NUCFDC office inauguration on 8 August 2026, a move Raut has strongly objected to.
What has Raut demanded from the Ministry of Cooperation?
Raut has urged the Ministry of Cooperation to publicly disclose all administrative decisions and documentation related to the transfer of Apex Bank assets. He has also flagged that transfer order details are currently absent from the ministry's website and the Central Registrar of Cooperative Societies portal.
Why did Sanjay Raut write the letter in Marathi?
Raut stated he deliberately wrote the letter in Marathi so that the general public in Maharashtra could understand what he described as 'injustice being perpetrated' against the state's urban cooperative banking sector, signalling the issue's political salience for local communities.
