Uttarakhand based Kurmanchal Nagar Sahakari Bank Director Govind Ram Raturi is sore with the fact that despite relentless efforts, the UCB has failed to secure go-ahead for internet banking from the Reserve Bank of India.
Sharing his anguish with the urban cooperative banking fraternity recently during the AGM of apex body Nafcub, Raturi said “we have been making continuous efforts since last 3-4 years but RBI refuses our legitimate demand on one ground or the other.” This time even our NPA has come down to 4 per cent but RBI does not heed”, he sounded disappointed.
It bears recall that Kurmanchal Nagar Sahakari Bank is doing well in an area where the co-op movement is not so strong. It has performed well in the last financial year 2017-18 with the total business of the bank increased to Rs 2,524.03 crores as on 31st March 2018 showing a growth of 10.05%.
Talking about his Chairman Raturi said “Our Chairman Vinay Sah is an IIT graduate and he left the coveted private sector jobs to do something for the poor people. Kurmanchal Nagar Sahakari Bank is doing well but it can do still better if the RBI lends a helping hand, he lamented.
It is no secret that due to the lack of economic activities, several parts of Uttrakhand has turned into ghost villages. Currently, NCDC is collaborating with state govt to ignite co-op movement for the growth of the area.
Raturi also felt that the present cap of 15 per cent on investment in tourism is also proving a handicap for the growth of the urban cooperative bank. “Tourism, hotels and restaurants are the areas in which growth prospects are bright”, he added.
Meanwhile, as in the pasts AGMs, an incorrigible optimist Vinay Sah told again in 36th AGM ”we will start the new facility of net banking for our valuable customers as well as depositors besides other facilities sooner than later”.