Mumbai, August 22: Shiv Sena (UBT) Rajya Sabha MP Sanjay Raut has written to Union Home and Cooperation Minister Amit Shah, expressing concerns over the passage of the National Cooperative Development Corporation (Amendment) Bill, 2026, and the inauguration of the National Urban Cooperative Finance Development Corporation (NUCFDC) office in Mumbai.
A copy of the letter, dated August 20, 2026, was also sent to Chief Minister Devendra Fadnavis and National Cooperative Committee Chairman Sharad Pawar. Raut raised significant objections regarding recent decisions made by the ministry concerning urban cooperative banking assets.
He stated that he deliberately wrote the letter in Marathi to ensure the public understands the perceived injustice being done to Maharashtra’s urban cooperative banking sector.
Raut alleged that the bill was passed hastily and that the assets of the top urban cooperative banks in Maharashtra and Goa were seized without the consent of their members through the NUCFDC. He described this as a direct attack on Maharashtra’s cooperative movement.
He further claimed that Parliament passed the bill without adequate discussion or scrutiny during the monsoon session. Raut questioned the inauguration of the NUCFDC office on August 8, 2026, stating that the premises was previously the headquarters of the top urban cooperative bank in Maharashtra and Goa, funded by local cooperative institutions.
The top bank has been undergoing liquidation for several years, and member committees awaiting asset distribution are adversely affected. He referenced pending recovery claims against Madhavpura Mercantile Cooperative Bank in the Supreme Court.
Raut emphasized that there was no consultation with Maharashtra’s cooperative bank members regarding the allocation of the premises, nor was their consent obtained. He also pointed out that details related to transfer orders are not available on the websites of the Ministry of Cooperation and the Central Registrar of Cooperatives.
He noted that the NUCFDC is structured as a non-banking financial company (NBFC) registered in Delhi, and despite receiving significant capital from the state, there is no representation of Maharashtra’s urban cooperative banks on its board.
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