Govt approves Rs 827 crore for Nashik, Nagpur, Dharashiv co-operative banks

The decision was taken at a Cabinet meeting chaired by Chief Minister Devendra Fadnavis. While ₹672 crore was allocated to the Nashik District Central Cooperative Bank, ₹81 crore to the Nagpur bank, and ₹74 crore to the Dharashiv bank.

The move follows recommendations from the Reserve Bank of India on the recapitalisation and revival of these institutions.

The Cabinet also authorised the dismissal of the existing board of the Dharashiv District Bank and the appointment of an administrator, citing the bank’s deteriorating financial condition.

While Nashik and Nagpur banks are currently under administrators, Dharashiv has an elected board.

Officials said the capital support will be disbursed in phases, with ₹336 crore to Nashik Bank this financial year and the remaining ₹336 crore in the next.

In another major decision, the Cabinet approved the recruitment of 8,282 additional security guards under the Law and Judiciary Department to bolster security at court complexes and judges’ residences across Maharashtra.

Of these, 4,742 guards will be deployed at courts and 3,540 at judges’ residences, through the Maharashtra State Security Corporation (MSSC).

The move follows directives from the Aurangabad Bench of the Bombay High Court in a public interest litigation concerning judicial security. The Cabinet sanctioned ₹443.24 crore for the salaries of the newly recruited personnel.

The Cabinet also approved the extension of the implementation period of the Fifth Maharashtra Finance Commission’s recommendations till March 31, 2026, necessitated by administrative changes following the appointment of Dr. Nitin Kareer as chairperson of the Sixth Finance Commission after the demise of Mukesh Khullar.

Under the Water Resources Department, the government cleared two irrigation projects worth over ₹200 crore in Hingoli district. The Cabinet sanctioned ₹90.61 crore for the Digras Storage Tank Project in Hingoli taluka, which will provide irrigation to 603 hectares and drinking water to nearby villages, and ₹124.36 crore for the Sukli Storage Tank Project in Sengao taluka, expected to bring 677 hectares under irrigation.

Both projects fall under the Godavari Marathwada Irrigation Development Corporation and are aimed at improving agricultural productivity and ensuring water availability in drought-prone areas of Marathwada.

However, the Cabinet meeting, held while the model code of conduct remains in force for the upcoming local body elections, drew criticism from the Opposition.

“While the code of conduct was in effect, the Mahayuti government held a Cabinet meeting and openly announced decisions that impact Maharashtra’s rural areas. In today’s meeting, capital was announced for the Nashik, Nagpur, and Dharashiv District Banks. The government’s press note states that farmers receive crop loans through these banks. Funds have also been approved for a storage tank in Hingoli district. It should not be forgotten that municipal councils and corporations are also connected to rural areas. Farmers live here too. Will the State Election Commission take note of this?” Congress leader and spokesperson Sachin Sawant said.