In a review meeting of the Himachal Pradesh cooperative department held recently, the state cooperative minister Suresh Bhardwaj said strict action would be taken against the officers who disbursed loan against the norms. He asked officials to give a complete report before 31 March.
Bhardwaj said action would also be taken against the officers involved in increasing the Non-Performing Asset (NPA) of Kangra Central Cooperative Bank.
It is reported that the Kangra Central Cooperative Bank’s present NPA reached up to 22 percent. Kangra Bank has the highest NPA among the cooperative banks in the state.
Officials said during the tenure of the former Congress government many irregularities were committed in giving loans. The loans worth crores of rupees are now difficult to recover.
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”.
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