In a bid to strengthen the co-op banks of the state, Uttarakhand Cooperative Minister Dhan Singh Rawat has launched a debt collection campaign for recovering up to Rs 850 crore worth bad loans from the borrowers who have taken from State Cooperative Bank and different District Central Cooperative Banks of the state.
The Minister instructed the representatives of SCBs and DCCBs to recover the bad loans and in this regard several meetings have been conducted. The meeting of top 20 big defaulters with the Minister revealed that defaulters owe over Rs 300 crore.
Tehri Garhwal District Cooperative bank is on top of the list, whose NPA is more than that of other co-op banks. Uttarakhand State Cooperative Minister warned that if the borrowers failed to clear the outstanding dues till 10th March 2021, strict action will be taken against them.
Punjab will amalgamate 20 district central cooperative banks with the Punjab State Cooperative Bank (PSCB) by the end of this financial year, reports Tribune News Service.
Punjab has sought permission from the Reserve Bank of India in this connection. Following amalgamation, the PSCB will be the largest bank in the state with 804 branches.
It is worth mentioning that District Central Cooperative Banks (DCCBs) in Punjab serve nine lakh farmers lending Rs 12,000 crore each year to them. Sources say of the 20 District Central Cooperative Banks, 11 were Rs 700 crore in the red.
BJP urges RBI to aid Mumbai societies redevelopment
By
Quaid Najmi ( IANS) |
Published on
Thu, Jan 7 2021 19:27 IST |
0 Views
Reserve Bank of India (RBI). (File Photo: IANS). Image Source: IANS News
Mumbai, Jan 7 : Given the major problems confronting the redevelopment of some 5,800 old and dilapidated buildings in Mumbai, the opposition BJP in Maharashtra on Thursday submitted to the RBI a plea on finance and other aspects to boost self-redevelopment by cooperative housing societies (CHSs).
Leaders of Opposition Devendra Fadnavis (Assembly) and Pravin Darekar (Council) met Reserve Bank of India (RBI) Governor Shaktikanta Das to discuss the major issues of self-redevelopment of CHSs and submitted a memorandum.
Speaking at a NAFSCOB function in Mumbai on Tuesday, Nabard Chairman Dr Govinda Chintala stressed on cooperatives reinventing themselves to take on the private sector. Commercial companies are ahead of co-ops because they use advanced technologies as well as the most appropriate tools to reach out to the people. As they employ the best business models, there is a need for cooperatives to re-invent themselves”, Chintala said.
Chintala was speaking at a national seminar organized by Nafscob on ‘Recent Trends in Agriculture Credit Cooperatives and Banking’. Nabard Chairman Dr Govinda Chintala was the keynote speaker. Kribhco Chairman Dr Chandra Pal Singh Yadav was the chief guest.
Government ropes in Nabard & Hudco to revive rural housing scheme
SECTIONS
Share
Synopsis
The Rural Housing Interest Subsidy Scheme has managed to spend barely around Rs 10 crore till this week, out of around Rs 50 crore released mid-2019, with roughly 9,000 beneficiaries. It marks a setback for government expectations, evident from the fact that the rural development ministry had earmarked Rs 100 crore for 2020-21.
iStock
(This story originally appeared in on Dec 17, 2020)NEW DELHI: The scheme to provide interest subvention to the rural homeless poor has failed to make a mark with weak response to loans and poor utilisation of funds, prompting the government to seek its revival by roping in two financial institutions with strong rural network.