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Anaskar to head State Co-op Council; to enjoy status of MoS

The veteran co-operator from Maharashtra Vidyadhar Anaskar has been appointed as the Chairman of Pune-based State Coopera ....

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UCBs hail RBI notification; says no impact on elected Directors

UCBs hail RBI notification; says no impact on elected Directors
indiancooperative.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiancooperative.com Daily Mail and Mail on Sunday newspapers.

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What co-op sector expects from Budget 2021; Co-operators opine

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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Pune People's Co-op Bank performs well; Both business & profit grow

Despite the Covid-19 challenge, Maharashtra based Pune People’s Cooperative Bank, a Multi-State Bank has performed well as both its business and profit registered a growth in the financial year 2019-20. The bank has also crossed the deposit base of Rs 1200 crore in the third quarter of the current FY.
The bank’s total business increased from Rs 1,772 crore to Rs 1,837 crore as on 31st March 2020. The rise in the profit is slight and it has increased from Rs 12.52 crore to Rs 12.64 crore in the 2019-20 financial year.
One of the directors Adv. Subhash Mohite who is also the Chairman of Pune Urban Cooperative Banks Association said, “We have seen no impact of Covid-19 on our business and from deposits to loans and advances to profit and on others financial parameters, the UCB has performed well. Even till the end of third quarter of the current financial year we have crossed the deposit base of Rs 1200 crore”. ....

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