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Mehta rejects media report on Niti Aayog working to reduce UCB numbers
UCBs have no govt share and thus govt can’t force their mergers: Mehta
Reacting to the news in a section of the media that the Center is mulling roping in Niti Aayog for consolidating stressed urban cooperative banks, senior co-operator Jyotindra Mehta said “we have not heard anything of this kind. There is no official communication on the issue to us, ”. Mehta heads the apex national body of UCBs (Nafcub) in the country.
There is a media speculation that the Union Ministry of Finance has asked the RBI and Niti Aayog to work out modalities of merger or winding up of stressed out UCBs in the country.
While thanking RBI Board member Satish Marathe and Rajya Sabha member Chandra Pal Singh Yadav for their support to the urban cooperative banking sector in their respective roles, Nafub President Jyotindra Mehta said challenges before the sector continue to be aplenty. Mehta was speaking at the Nafcub’s 44th AGM held at the NCUI headquarters in Delhi on Wednesday.
Making a fresh bid to have a pressure group in the form of “Forum of MPs for Cooperatives”, Mehta recalled two such exercises from the past. One was attended by 60 MPs and the second one by 48, cutting across party lines, Mehta added. For every new term of Lok Sabha, we need to have a fresh Forum, he stressed.
Lauding the role being played by the only cooperative news portal in the country www.indiancooperative.com, Nafcub President Jyotindra Mehta said the news portal has been at the vanguard of fighting for the just issues of the co-operative sector.
We need to highlight our success stories so that the false impression of co-op banks being not adequately responsible could be fought off, said Mehta underlining the role of media interaction.
Stressing the point further Mehta named Indian Cooperative for its continuous championing of the sector’s issues before the govt and the public. Later he felicitated the Editor of Indian Cooperative Ajay Jha with a bouquet.
Gujarat Chief Minister Vijaybhai Rupani has felicitated the state cooperators for doing a praiseworthy work in the implementation of Atmanirbhar Gujarat Sahay Yojana (AGSY) in the state. They got felicitated in a meeting held in Gandhinagar to understand and implement the ‘Mukhyamantri Mahila Utkarsh Yojana’ last week.
Gujarat Urban Cooperative Banks Federation President Jyotindrabhai Mehta, Gujarat State Cooperative Bank Chairman Ajaybhai Patel and Uttar Gujarat Urban Cooperative Bank Federation Chairman Kantibhai Patel were felicitated with trophies and certificates on the occasion.
Sharing the news through social media Gujarat Chief Minister wrote, “A meeting was held in Gandhinagar to understand and implement the ‘Mukhyamantri Mahila Utkarsh Yojana’. The basic mantra of determination of cooperation is helping small people”.