5 May 2002

Administrator for NDCC Bank
Nagpur: The board of Nagpur District Central Co-operative Bank has been dissolved and an administrator appointed to look after the banks affairs.

The bank was involved in a Rs 150-crore government securities scam.

Commissioner of co-operatives Ratnakar Gaikwad had served a notice on the bank and appointed district deputy registrar (Nagpur) SB Patil as the administrator.

Nabard set to launch new credit scheme
Ahmedabad: The National Bank for Agriculture and Rural Development is to launch a new credit linked scheme for creation of 18.50 lakh tonne storage capacity in the rural areas of the country.

To be named Gramin Bhandaran Yojana, Nabard would provide 75 per cent of the capital investment, while Union government would provide the rest 25 per cent as credit-linked back ended subsidy.