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.
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.