In a scathing comment on the cooperative sector in Maharasthra,Chief Minister Prithviraj Chavan has said most of the urban credit cooperative societies in the state are fake and they deserve to be punished. His govt. is seriously thinking of cancelling their licences. He was addressing the international cooperative meet in Shirdi.
Chief Minister added a large number of such fake cooperative societies are betraying their depositors trust and their undesirable activities need to be checked without delay. The state govt. would soon amend the Maharashtra cooperative act to make it strict.
Mr. Chavan warned that the elements responsible for running such fake cooperative organisations in the state would not be allowed to continue to indulge in their dodgy activities.