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Govt asks surplus funds to be deposited in rural banks

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The Maharashtra state government has reportedly asked state run enterprises and municipal corporations to deposit the surplus funds in Vidarbha, Konkan and regional rural banks. The move is expected to stabilize regional rural banks as these banks are involved in providing loan and financial help to small and marginal farmers.

It will be the responsibility of the heads of the state-run enterprises and corporations to ensure complete security of the money, while state nominees on the rural bank will submit a quarterly report on the status of the deposits to the state finance department.

 

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