The Thane District Cooperative Bank, which provides services in Thane and Palghar districts, will not be split into two for now, Maharashtra Deputy Chief Minister Ajit Pawar said on Saturday.
Palghar was carved out of Thane in August, 2014.
Speaking at a function in Dahanu here, Pawar said the first priority was to strengthen the bank and make it self-sufficient, adding that managing small banks was more difficult.
“Therefore, for the time being, the Thane District Cooperative Bank will not be split. However, once the situation changes for the better, we may re-examine the matter. Such unified bank system is working well in Nandurbar-Dhule and Akola-Washim,” the Deputy CM said.
Pawar said he had been chairman of Pune District Cooperative Bank for many years, adding that splitting banks benefits activists of political parties, who are accommodated on various boards, but the health of the lending facility suffers.