Housing societies can open their accounts with any nationalised bank and, if they refuse, citizens could complain to the state, Minister for Cooperation Subhash Sureshchandra Deshmukh told mid-day on Monday. A few housing societies who had their accounts in Punjab and Maharashtra Co-operative Bank have been finding it difficult to open society accounts with nationalised banks. Since PMC is a multi-state scheduled Urban Cooperative Bank, the state cooperation department has no direct control over them and they come under the ambit of the Central Registrar of Co-operative Societies, New Delhi. I have directed the State Registrar to write a detailed note to the Central Registrar for appropriate action," said Deshmukh.

Asked about the measures the state will take in the future to prevent financial irregularities in cooperative banks, Deshmukh said, "We have come up with two immediate measures. The Maharashtra Co-operative Societies Act (amended) which has come into force, has provisions where Directors/Members on the boards of Co-operative Banks, if found responsible for irregularities, will not be able to contest co-operative election for two terms (10 years). Also, under Section 97(A), it will be made mandatory for the cooperative department to carry out compulsory special audit of cooperative banks during the five-year tenure of the board."