Also, there is an extension in the deadline for the managing committee to transact budget and appoint an auditor for the next fiscal year, while taking a decision on the budgeted balance left in the audited accounts. Housing societies in Maharashtra can now hold their AGM till March 2022. The circular mandated all housing societies to invest and maintain their Fixed Deposit (FD) investments with the Mumbai District Central Co-operative Bank Ltd., as per the relevant sections of the MCS Act. According to the Maharashtra Co-operative Societies (MCS) Act, a circular was issued by the Divisional Joint Registrar, Co-operative Societies, Mumbai, on June 1, 2023. was appointed as the Nodal Agency and coordinator between the Maharashtra Government and housing societies. The Mumbai District Central Co-operative Bank Ltd. Housing societies directed to maintain FD with Mumbai District Central Co-operative Bank Ltd.
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