Co-Operators across the country have welcomed the move by the RBI to revise the housing loan limit and called it a joyous moment for the cooperative banking s
The Cooperative sector has offered mixed reactions to the budgetary announcements made by the Union Finance Minister on Monday. While some cooperators have lauded the idea of setting up a separate Administrative Structure for multi-state co-ops, others would like to get included into the discussions before it takes shape.
While a few have welcomed the govt move on giving sops for converting into small finance banks, majority have not liked the budgetary announcement on the issue and alleged that it is an attempt to destroy a 100 years old co-op movement in the country.
Most of the co-operators have, however, welcomed the FM announcement of strengthening multi-state co-ops but have asked in the same breath about its actual shape.
In order to enhance business which was affected due to Covid-19, Maharashtra based Thane Bharat Sahakari Bank (Scheduled Bank) has decided to overcome the challenge by boosting business in near future. Now, the bank is planning to disburse group and gold loans to the borrowers.
Talking with Indian Cooperative correspondent at its headquarters in Thane, the bank CEO Shekhar Desai said, “We are making a strategy to grow the business which was affected due to Covid-19. Firstly, we are focusing on group loans. In this regard, we are seeing the balance sheet of companies located in Maharashtra state for disbursing loans to their employees.”