Co-operation · Ch 8 — Maharashtra State Co-operative Bank
Meaning and Definition of the Maharashtra State Co-operative Bank
Meaning and Definition of the Maharashtra State Co-operative Bank
The Maharashtra State Co-operative Bank (MSC Bank) is the apex co-operative bank of the State of Maharashtra — the topmost tier of the three-tier co-operative credit structure. It is a co-operative body, registered under the co-operative law and licensed by the Reserve Bank of India to do banking, whose main task is to finance, guide and control the district central co-operative banks of the state and, through them, the thousands of village societies that reach the ordinary farmer.
Because of its place at the head of the pyramid, the MSC Bank is often called the 'apex bank', the 'leader of the co-operative movement' in the state, and the 'friend, philosopher and guide' of the district central banks. It does not, as a rule, deal directly with the individual farmer; it works chiefly through the district central co-operative banks. Its members are, in the main, the district central co-operative banks of Maharashtra, together with certain other large co-operative societies and institutions.
The Core Idea in One Line
The Maharashtra State Co-operative Bank is the state's single apex co-operative bank — it stands between the Reserve Bank of India and NABARD above and the district central co-operative banks below, passing credit down to the villages and leading the whole co-operative banking movement of Maharashtra. …
The apex co-operative bank of Maharashtra — a co-operative society registered under the co-operative law and licensed by the RBI, whose chief function is to finance, guide and control the district central co-operative banks of the state and, t …
A description of the apex state co-operative bank, which not only supplies funds but also guides, trains and represents the whole co-operative banking movement of the state before th …