Mumbai, Aug 21 (SocialNews.XYZ) Shiv Sena (UBT) Rajya Sabha Member of Parliament Sanjay Raut has addressed a letter to Union Home and Cooperation Minister Amit Shah, raising concerns over the passage of the National Co‑operative Development Corporation (Amendment) Bill, 2026, and the inauguration of the National Urban Co‑operative Finance Development Corporation (NUCFDC) office in Mumbai.
Copying Chief Minister Devendra Fadnavis and NCP President Sharad Pawar on the communication dated August 20, 2026, Raut outlined key objections to the ministry’s recent decisions regarding urban cooperative banking assets.
Raut said he deliberately wrote the letter in Marathi so that the public could understand how, in his words, “injustice is being perpetrated” against Maharashtra’s urban cooperative banking sector.
He alleged that the Bill was passed hastily and that through NUCFDC, the property of the Apex Urban Co‑operative Bank of Maharashtra and Goa had been seized without the consent of its members.
He described this as a direct attack on Maharashtra’s cooperative movement.
He further alleged that Parliament passed the Bill during the Monsoon Session without adequate discussion or scrutiny. Raut questioned the inauguration of the NUCFDC office on August 8, 2026, in Mumbai, saying that the premises previously served as the headquarters of the Apex Urban Co‑operative Bank of Maharashtra and Goa, an institution funded by local cooperative entities.
The Apex Bank has been in liquidation for several years, and member societies awaiting asset distribution are affected. He cited pending recovery claims against Madhavpura Mercantile Cooperative Bank currently before the Supreme Court.
Raut said Maharashtra’s cooperative bank members were not consulted or asked for consent on the premises allocation.
He added that details regarding the transfer orders are absent from the websites of the Ministry of Cooperation and the Central Registrar of Cooperative Societies.
He pointed out that NUCFDC is structured as a Non‑Banking Financial Company (NBFC) registered in Delhi, with no representation from Maharashtra’s urban cooperative banks on its Board of Directors, despite drawing substantial capital from the state.
Raut urged the Ministry of Cooperation to make all administrative decisions and documentation regarding the transfer of Apex Bank assets public to maintain transparency.
Source: IANS
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