Finance Minister Pranab Mukherjee said, the Reserve Bank can take a decision on conducting any further investigation into financial irregularities reported in Maharashtra State
Cooperative Bank. In a written reply to the Rajya Sabha, Mr Mukherjee said, the bank is already under direction of the Reserve Bank and any further investigation in such case is to be taken by the RBI considering all facts and circumstances. The Minister said, with reference to the bank's financial position on March 31, 2010, a statutory inspection was carried out by NABARD which revealed that financial position of the bank had deteriorated further and irregularities reported earlier were prevailing in the functioning of the bank.