License or no license; COBI holds seminar in Sweden

Cooperative Bank of India (COBI) may fail to take off in the country but it never fails to hold international seminars year after year. This time it is Sweden where its leaders have gathered.

“COBI is conducting a National Seminar on “Need and Importance of Adoption of Information Communication Technology (ICT) and Digitalization in Cooperative Banks”, at Stockholm, Sweden”, read a small message from the COBI sources.

Those present from COBI in the seminar include COBI Chairman GH Amin, NAFSCOB Chairman Dileep Sanghani, Delhi State Co-op Bank Chairman Dr Bijendra Singh, Biscomaun Chairman Sunil Kumar Singh and several national and international Cooperative leaders. There are representatives of all kinds of co-op banks from India, claimed COBI sources.

NCUI President Chandra Pal Singh Yadav did not go this time owing to his political pre-occupations, said a source.

COBI’s conference is followed by field tours to understand the operations of banks in Europe, claimed one of the leaders. Last year they had visited Berlin, as reported earlier in these columns.

Cooperators have long felt the need for an apex body which represents all the co-op banks from the Primary to the state level. COBI was envisaged to represent urban cooperative as well as land development banks at the national level. It also aimed at becoming the bank for all the top national cooperative federations such as NCUI, IFFCO or Kribhco.

COBI has its AGM, its board meetings but it is not able to do financial activities as it does not have a license. Several past committees have also advocated setting up of a national body for cooperative banks in the country such as COBI.

Readers would note that COBI has failed to secure banking license from RBI so far despite its leaders meeting everybody from Ministers to the Prime Minister. Unfazed by its sorry plight, it is holding international jamborees with religious regularity every year.

 

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