Maharshtra State Co-operative Bank (MSCB) has appointed Pramod Karnad as the new Managing Director of the bank.

Karnad was officiating as the Managing Director for the past 20 months, the bank said in a statement.

In May 2011, the RBI dissolved the MSCB Board and a Board of Administrators was appointed to monitor the bank.

The 100-year old co-operative bank had reported a turnaround profit of Rs 18 crore for the July-September quarter. It had reported an accumulated loss of Rs 75 crore as on March 31, 2012.

(This article was published on November 15, 2012)
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