The Maharashtra state government has decided to bring changes in the Maharashtra Cooperative Societies Act 1960 in order to put a check on rising number of scams in cooperative banks. These scams finally leave the bank bankrupt which ultimately affects the innocent customer who has to pay with loss of his money.

The minister of state for cooperation and parliamentary affairs, Harshawardhan Patil announced the decision.

He also said that in case a bank is found bankrupt owing to unscrupulous activities of a selected few, their directors would be held responsible along with refrainment from working elsewhere too. Maharashtra currently has the highest number of cooperative banks counting up to 635, added Patil.