NAFSCOB holds virtual meeting; Participants seek moratorium on loan
NABARD Chairman & NCUI Prez also attend, among others
The apex body of State Cooperative Banks and District Central Cooperative Banks-Nafscob organized its board meeting virtually on Friday in which Nabard Chairman G R Chintala was a special invitee. Besides discussion on several issues pertaining to State Co-op Banks and DCCBs, the representatives of co-op banks wanted RBI to announce yet another round of loan moratorium scheme in the wake of lockdown in different states due to Covid surge.
“There should be an expert committee to address the issues related to Co-operative Banks as was done by the RBI for Urban Cooperative Bank in February 2021”, felt several participants.
PMC victims exhort Shah to intervene, seek parity with Private banks indiancooperative.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiancooperative.com Daily Mail and Mail on Sunday newspapers.
Reacting to his induction as a member in the expert committee on UCBs, as announced by RBI on Monday, Nafcub President Jyotindrabhai Mehta said, “the constitution of an expert committee is the need of the hour.”
Talking to Indian Cooperative Mehta added “the Banking Regulation Amendment Act was a big step forward so far as the growth of the UCB sector was concerned and now this Committee will fulfil aspirations of the sector.
Promising to do his best Mehta said “We will work together to strengthen the cooperative banking sector.”
It bears recall that RBI announced the constitution of an Expert Committee on UCBs, which will be chaired by N S Vishwanathan, Former Deputy Governor.