<p>The apex cooperative bank has a vast network in the state and lends finances to district cooperative banks as well as sugar and other cooperatives, which are the backbone of the rural economy.<br /><br />The bank was under the control of the NCP leaders, and Ajit Pawar was virtually the boss when it came to the bank’s management. <br /><br />Last week, the board of directors of the bank was dissolved by the Reserve Bank of India (RBI), which appointed two administrators, citing poor financial health and gross irregularities.</p>
<p>The apex cooperative bank has a vast network in the state and lends finances to district cooperative banks as well as sugar and other cooperatives, which are the backbone of the rural economy.<br /><br />The bank was under the control of the NCP leaders, and Ajit Pawar was virtually the boss when it came to the bank’s management. <br /><br />Last week, the board of directors of the bank was dissolved by the Reserve Bank of India (RBI), which appointed two administrators, citing poor financial health and gross irregularities.</p>
