District’s 303 Crores get locked in inter co-operative society transactions

District’s 303 Crores get locked in inter co-operative society transactions:
Jalgaon district’s over 598 co-operative societies made inter society funds deposits of Rs. 303 Crores as a lure of attractive deposit rates. These deposits later turned to blocked status following such high interest rates offering societies getting locked down with no liquidity. Jalgaon district’s co-operative Societies depositors have turned to deep financial crunch following non-payment of their deposits since year 2007 and this amount blocked this way has been amongst major reasons on liquidity shorts.

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