MUMBAI: A year after the Reserve Bank of India (RBI) dismissed the board of the Maharashtra State Cooperative Bank (MSCB) and appointed two state officials to run the bank citing high negative net worth, the apex bank has scripted a turnaround. The MSCB has wiped out its losses and has collected a net profit of nearly Rs 18 crore. A National Bank for Agriculture and Rural Development audit of the bank's 2009-10 balance sheet had revealed that its net worth had turned negative by Rs 140 crore on account of money set aside or provided for bad loans......
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