cooperative banking news

8/3/2019 Cooperative Banking News

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COOPERATIVE BANK..

NEWS HEADLINES..


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1.COOP BANKS SHOULD BE ALLOWEDTO PLAY A MAJOR ROLE IN PROVIDING

AGRICULTURE CREDIT

Govt must also disburse credit at less than 4%through institutional finance, says employees' body

. Coimbatore, June 14: Insufficient public investment in agricultural

infrastructure, inadequate institutional credit to

farmers (not just for crop raising but also forinvesting in infrastructure facilities), increased importof agricultural products and adverse policies haveimpacted the country's agricultural production.


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The demands

The AICBEF is demanding that the Government:

set apart at least $50 billion (Rs 2,35,000 crore) from out of the forex

reserves of around $400 billion for construction of dams and otheragriculture infrastructure facilities, such as roads, transport facilities,godowns, supply of mechanical and electrical implements for farmoperations.

Disburse credit at not more than 4 per cent to farmers through institutionalfinance.

keep at least 25 per cent of the surplus in Central and State governmentorganisations as deposits in cooperative banks for resourcemobilisation.

The per capita net availability of food grains has dropped from 183.6kg/year in 1997 to 180.4 kg/year in 2002 and further down to 162.1

kg/year in 2009. While the population growth is 1.9 per cent, the rate of growth in food

production is lower at 1.67 per cent.

Agricultural productivity can be increased only by improving agricultureinfrastructure, else, the future population of the country would suffer

for want of food, he reiterated.


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2.NABARD INKS MOUs WITH COOPBANKS

Ahmadabad, April 8:- The National Bank for Agriculture and Rural Development

(NABARD) has inked Memorandums of Understandings(MoUs) with a few cooperative banks here to provide technicalassistance for the launch of core banking solutions (CBS).

The MoUs were signed between NABARD and Gujarat StateCooperative Bank and nine district central cooperative banksfrom Vadodara, Bharuch, Bhavnagar, Ahmadabad, Sabarkantha,Rajkot, Surendranagar, Jamnagar and Kodinar

The implementation of CBS is expected to get completed withinone year


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3.ORACLE OFFERS BACK-OFFICE TOOLFOR COOP BANKS

Hyderabad June 6: Oracle has announced the launch of acomplete back-office solution for cooperative banks inthe country.

As part of this initiative, Oracle plans to set up a

Cooperative Banking Centre of Excellence inpartnership with EBX Online.

With the help of Oracle-certified partner EBZ Online,Oracle will offer affordable IT solution to all categories

of cooperative banks, including community banks,credit unions, urban and rural cooperative andagricultural banks.


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5. Coop banks told to improve efficiency

The Andhra Pradesh Chief Minister, Dr Y.S.Rajasekhara Reddy, has advised the cooperative

banks across the country to improve theirefficiency levels so as to withstand the increasingcompetition from the commercial and regionalrural banks.


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6. Package soon for coop banks

New Delhi, Dec 2

THE Union Finance Minister, Mr. P. Chidambaram, today toldthe Lok Sabha that a package for cooperative banks wasready.

"A package is almost ready to be placed before the UnionCabinet", the Minister said adding that the public sector

banks have stepped up their farm credit substantiallysubsequent to the July 2004 package announced by him.


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7.Nabard rate hike irks coop banks

Thiruvananthapuram, Feb. 14

THE latest hike in refinance rates announced by the NationalBank for Agricultural and Rural Development (Nabard) is"feared to deliver a mortal blow" to apex State-levelcooperative lending banks and their farmer borrowers.

According to Mr K. Sivadasan Nair, President of the KeralaState Cooperative Agricultural and Rural DevelopmentBank (KSCARDB), Nabard's announcement was asunexpected as it violated the prevailing lending principles.


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8. Madurai Urban Coop Bank closed

THE Madurai Urban Cooperative Bank has been closed, with

the premises officially sealed on January 7. According to sources, the bank could not operate since the

Reserve Bank of India (RBI) had cancelled its licence. TheRBI had barred the bank earlier following reports ofembezzlement of funds.


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