Ex-MP Ravindra seeks relaxation in NPA Classification Norms
AP Chapter of Nafcub writes letter to RBI
Chitturi Ravindra (Ex-MP), Chairman of Andhra Pradesh State Cooperative Urban Banks and Credit Societies Federation has written a letter to the Executive Director of Reserve Bank of India requesting a temporary relaxation in NPA Classification Norms.
The letter has been addressed on behalf of Urban Cooperative Banks of Andhra Pradesh. “We request you to allow temporary reprieve to UCBs, and permit classification of NPAs on the basis of 180 days norm instead of the present 90 days norm, demands the ex-MP.
The letter further reads, “RBI and Government of India have taken several measures to kick start the economy. Most of these measures were in the form of offering financial stimulus to borrowers in the form of restructuring of loans, rescheduling of payments, conversion of interest accrued into another credit facility, granting of moratorium etc. These have been beneficial to
Maharashtra based Kallappana Awade Ichalkaraji Janata Sahakari Bank (Multi-State Scheduled Bank) which is popularly known as Kaijs Bank has announced that the bank has earned a gross profit of Rs 33 cro
Sanmati Sah Bank: Patil gets elected third term as Chairman
Sunil Patil has been re-elected unopposed for the third term as Chairman of Sanmati Sahakari Bank in an election held last week at the bank’s headquarters. Besides this, Mahadev Kamble has been elected unopposed as the Vice-Chairman of the bank. Kamble replaced Ajit Koik.
The bank’s board has re-elected Patil as the Chairman for three consecutive terms. The board comprises 17 elected directors in which 2 seats are reserved for Women and 1 seat form SC/ST.
In the newly elected board three directors are newcomers and the rest are from the outgoing board. The two directors from the outgoing board have resigned from the board because of their age issues.
Govt asks companies not to hike rates of non-urea fertilizers
MoS Mansukh Mandaviya has tweeted that his Ministry had a high-level meeting in which fertiliser companies were requested not to increase the price of DAP, MoP and NPK. The fertiliser companies have agreed with it, Mandaviya added.
Govt agencies quote that Union Minister D.V. Sadananda Gowda had discussion with Senior officials of Department of Fertilizers and IFFCO representative. Gowda confirmed that IFFCO will be selling nearly 11.26 LMT available stock of DAP/Complex fertilizers on the older rates.”
KRIBHCO, MCFL, Zuari Agro Chemicals, Paradeep Phosphates have increased retail prices of DAP to Rs 1,700 per bag with effect from April 1, quotes PTI.