Co-op banks face action while nationalised banks get govt

NCP chief Sharad Pawar on Saturday called for a "change of perception" towards co-operative banks, saying they face stern action when in distress while nationalised banks get a helping hand.

He was speaking at a function organised by Saraswat Co-operative Bank, which completed 100 years on September 14, here. Shiv Sena president Uddhav Thackeray was also present.

The cooperative movement started in Maharashtra due to the vision of its leaders in the early years of Independence, Pawar said.

Maharashtra, Gujarat and Karnataka account for over 70 per cent of co-operative banks in the country, he pointed out.

"There is no doubt that nationalisedbanks should be helped. However, while nationalised banks have been given financial assistance worth Rs 86,000 crore in recent years, (boards of directors of) co-operative banks are being dissolved (when they face financial stress)," the former Union minister said.

"The perception towards co-operative banks should change," Pawar added.

Thackeray took a swipe at the Sena's ruling ally BJP in his speech, saying that after demonetisation, "condition of the economy today is suchthat the common man does not know where to turn to".

"For common people, there is scarce difference between the current and the past governments," Thackeray said.