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State Co-op Banks & DCCBs have suffered losses: Nabard Report

State Co-op Banks & DCCBs have suffered losses: Nabard Report
Losses due to amalgamation of DCCBs in Kerala: Nabard
Nabard has come out with a 358-page report on the performance of co-op banks during 2019-20, which says that the aggregate accumulated losses of State Co-op Banks have increased from Rs.471 crore to Rs.1,232 crore.
Nabard, however posted a 24 per cent growth in its balance sheet to a record high of Rs 6.57 lakh crore in the financial year ended on March 31, 2021.
Nabard blames the loss on the amalgamation of 13 DCCBs in Kerala with Kerala State Co-op Bank. Seven out of 33 StCBs were having accumulated losses as on 31 March 2020. ....

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Nabard: Sah Bharati team meets Chairman; raise co-op bank issues

Nabard: Sah Bharati team meets Chairman; raise co-op bank issues
Linking PACS with National Payment Gateway is crucial: Joshi
Sahakar Bharati leaders Satish Marathe and Uday Joshi met Nabard Chairman Dr Govinda Rajulu Chintala recently at his office and raised a host of issues related to the cooperative sector.
“Nabard Chairman Dr Chintalaji listened to our concerns very patiently and assured us to resolve the issues sooner than later. We had a very fruitful meeting. Besides, he was also very positive towards our demands”, Joshi said to Indian Cooperative correspondent soon after the meeting.
Talking about the issues raised during the meeting Joshi said, ” There is a need to empower State Co-operative banks & District Central Cooperative Banks. They should be allowed to raise Share Capital through Public & Pvt placements. Formulation of a merger policy for DCCBs into STCBs should also be crafter”, underlined Joshi. ....

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'Cooperative dept working to be improved'

‘Cooperative dept working to be improved’
Lahore
January 14, 2021
LAHORE:Effective measures will be adopted for improving working of Punjab s Cooperatives Department, said Minister for Law, Parliamentary Affairs and Cooperatives Raja Basharat while chairing a meeting of the Cooperatives Department at Civil Secretariat here on Wednesday. Secretary cooperatives, secretary finance and officers concerned were present on the occasion. The meeting reviewed the development plans and assets of the department of cooperatives while secretary cooperatives gave a briefing. The meeting decided to bring legal amendments for the use of frozen funds of the department. The proposal to set up a Cooperative Development Fund to consolidate all scattered funds was agreed upon. It was also decided to set up a board of directors to auction the properties of the department and make effective use of available funds. Raja Basharat said the process of transparent auction of department-owne ....

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