Mukund Abhyankar, Group Chairman, Cosmos Bank
In 1997, the number of UCBs was above 2000 when I had travelled the whole of India as a member of the Madhavrao Committee of RBI. Later, this number got reduced due to mergers & delicensing of nearly 500 UCBs by RBI and today they are just 1500 plus.
Now after amendments in the Banking Regulation Act in June 1920 by the Central Cabinet, I am afraid during the next one or two years, UCBs will further reduce to a three digit number i.e. less than 1000.
I expect from the central budget that a level playing field must be given to the UCB sector as is being given to all commercial banks. RBI should also take immediate steps to implement favourable provisions under the revised B.R. Act. The UCB sector is emotionally closer to the “Common Man”.
PMC urges banks to provide loans to property tax defaulters
“So far, the amnesty scheme has helped the civic body increase its revenue collection from property tax by Rs 350 crore. There are many defaulters that are unable to clear the dues to problems arising in their earnings due to the pandemic,” said Vilas Kanade, incharge of the PMC property tax department. December 28, 2020 11:02:01 pm
The NCP has managed to get Pradeep Gaikwad and Bandu Gaikwad elected to the standing committee on vacated seats. (File)
After collecting revenue for property tax worth almost Rs 350 crore from its amnesty scheme till date, the Pune Municipal Corporation (PMC), in a bid to further increase its revenue collection, has come up with an initiative to provide loans to defaulters for clearing their dues.
There are many urban cooperative banks in India that have failed to lend credit to the borrowers in the 2019-20 fiscal due to adverse market conditions but the Maharashtra based Apna Sahakari Bank has stood out with its excellent performance. The bank crossed a business mix of Rs 6k crore.
The total deposits of the bank stood at Rs 3,723.62 crore as on March 31, 2020 whereas earlier it was Rs 3,464.94 crore as on March 31.2019. The loan & advances of the bank stood at Rs 2,503.51 crore as on March 31, 2020 whereas it was Rs 2,410.43 crore as on March 31.2019.
The total business mix of the bank stood at Rs 6,227.13 crore whereas in the FY 2018-19 it was Rs 5,875.37 crore.