The co-operative movement in India traces its origin to a period as early as 1904,
when the Co-operative Credit Societies Act was enacted. As far as co-operative sector
is concerned, Maharashtra is the most developed state in the country. There is hardly
any village in the state which remains untouched by the co-operative movement and
hardly any important economic activity that is not covered under a co-operative
fold. The co-operative movement in Maharashtra is nourished by a three-tier co-operative
credit structure, at the helm of which is The Maharashtra State Co-operative Bank
Limited (MSCB). At the middle level are 31 District Central Co-operative Banks (DCCBs)
and at the bottom level, over 21085 Primary Agricultural Credit Societies (PACS)
The MSC Bank serves as a balancing center for the surplus resources of co-operatives
in the state and thereby ensures their multifaceted development and prosperity.
Needless to say that MSC Bank is the biggest co-operative bank in the country. Besides,
it is the only co-operative bank in India which has figured 9 times among the top
1000 banks in the world on the basis of financial soundness (Capital Adequacy) as
surveyed by ‘The Banker’ published from London, periodically. The bank is listed
in Schedule II of RBI Act 1934.