In a major boost to Maharashtra’s cooperative banking network, the state cabinet led by Chief Minister Devendra Fadnavis on Tuesday approved a Rs 827 crore share capital assistance for three District Central Cooperative Banks (DCCBs)- Nashik, Nagpur, and Dharashiv.

The decision, taken during the cabinet meeting, aims to revive financially stressed cooperative banks and strengthen their lending capacity to benefit farmers and the rural economy. As per the cabinet resolution, the share capital assistance will have to be repaid to the government within 10 years.

Under the approved plan, the Nashik DCCB -one of the largest and most distressed in the state -will receive Rs 672 crore, disbursed in two installments of Rs 336 crore each this year and next year. The Nagpur DCCB will get Rs 81 cro

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