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MSC Bank to begin infrastructure lending

MSC Bank is the apex co-operative bank of Maharashtra and chief lender to the state's sugar industry.

, ET Bureau|
Last Updated: Jul 04, 2019, 05.50 PM IST
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The own funds of Bank of Maharashtra as on March 31, 2019 were Rs 5739 crore.
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PUNE: As own funds of the MSC bank have crossed Rs 4000 crore mark, it has decided to participate in infrastructure lending jointly with the the commercial banks.

"For the first time in the 108 years history of the bank, our own funds have crossed Rs 4000 crore mark. This makes us eligible to to accept deposits from government and semi-government entities," said Vidyadhar Anaskar, chairman of the Board of Administrators.

"The own funds of Bank of Maharashtra as on March 31, 2019 were Rs 5739 crore. Our own funds are second highest, next to Bank of Maharashtra among the state's banks. Hence, with permission of Nabard, we have decided to start infrastructure lending," said Anaskar.

MSC Bank is the apex co-operative bank of Maharashtra and chief lender to the state's sugar industry. As Maharashtra's sugar industry has been going through a tough phase, MSC bank has organised a Sugar Conference 20-20 from July 5 to July 7 to address the emerging issues of the sugar industry.

"We want to make our customers strong by helping them to grow their business so that we do not face NPAs," said Anaskar.

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