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Recovery of society loan can be recovered through providend fund and retirement gratuity

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After India's independence in 1947, the princely states were integrated into the Indian Union, and the Deccan States including Kolhapur were integrated into Bombay State, which was created from the former Bombay Presidency in 1950. In 1956, the States Reorganisation Act reorganized the Indian states along linguistic lines, and Bombay Presidency State was enlarged by the addition of the predominantly Marathi-speaking regions of Marathwada (Aurangabad Division) from erstwhile Hyderabad state and Vidarbha region (Amravati and Nagpur divisions) from Madhya Pradesh (formerly the Central Provinces and Berar). On 1 May 1960, following mass protests for the creation of a separate Marathi-speaking state and the subsequent deaths of 105 protesters, Maharashtra came into existence when Bombay Presidency State was split into the new linguistic states of Maharashtra and Gujarat. Yashwantrao Chavan became the first Chief Minister of Maharashtra.