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Bhagalpur co-op scam: CBI probe ordered

Indian Cooperative was the first news portal to have broken the news of co-operative scam in Bhagalpur before it could catch the attention of national media. Now on Thursday the state government decided to recommend a CBI probe into the alleged swindling of Rs 700 crore of government funds by a Bhagalpur-based cooperative society Srijan […]

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Delhi’s new Co-op Minister seeks cooperators’ help

The delegation from Delhi Urban Cooperative Banks Federation comprising of several chairmen and CEOs of Urban Cooperative Banks of the Capital region recently met the newly appointed Cooperative Minister of Delhi Government Rajendra Pal Gautam in New Delhi to discuss the challenges facing cooperative banks. Till the time Rajendra Pal Gautam took over, Deputy Chief […]

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Nafcub Director demands power of recovery

“I demand on behalf of Delhi UCBs that the power to recover loans be given to the Delhi federation so as to reduce the workload of RCS department”, said the chairman of Delhi Urban Cooperative Banks Federation Laxmi Das after meeting the newly appointed Delhi’s Cooperation Minister Rajendra Pal Gautam in New Delhi. The delegation […]

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Nafcub: Mantri demands hike in fund allocation

NAFCUB government nominee Ramesh Mantri used the occasion of meeting with Union Minister of State for Agriculture Parshottam Rupala to demand hike in allocations being given to apex cooperative federations. Recent years have seen a significant reduction in them leading to hardship in these co-operative organizations. The central government should have a department responsible for […]

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Kangra Cent Co-op Bank: Skeletons tumble

Chairman of Himachal Pradesh based Kangra Central Cooperative Bank (KCCB) Jagdish Sapehia pooh-poohed the charges of undeclared NPAs in the bank’s balance-sheet calling it the opposition game-plan considering impending elections. “We are performing well and the bank is on the growth path but some elements are trying to tarnish the image of the bank” said […]

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Cosmos Bank’s Vice-Chairman Atre is no more

The Vice-Chairman of The Cosmos Co-operative Bank Ltd., Madhukar Waman Atre, passed away this Tuesday in Pune at a private hospital following a brief illness. He was 77. He was cremated at Vaikuntha Crematorium in the afternoon. He is survived by his wife, two daughters, sons-in-law and grandchildren. Condolences were offered by Cosmos Bank Chairman […]

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Nafcub Director loathes shortage of GST experts

One of the Nafcub Directors from Delhi who is also the Chairman of the largest Cooperative Bank of the Delhi-NCR, Kangra Cooperative Bank Chairman Laxmi Das said there are only a few experts who possibly understand GST and govt should have done its homework properly before its implementation. The implementation of Goods and Services Tax […]

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NABARD celebrates 36th Foundation Day

Being a unique organization, the role of National Bank for Agriculture and Rural Development [NABARD] is pivotal for bringing about rural prosperity in India, said Ajay Singh Kilak, Minister for Cooperation & Gaupalan,the Govt. of Rajasthan while speaking in the function organized by the Rajasthan division of Nabard in connection with the 36th foundation day […]

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GST: Mixed responses from Delhi’s UCBs

Delhi and NCR based urban cooperative banks have, generally-speaking, welcomed the new tax regime of Goods and Services Tax but a few of the cooperative leaders have found it being implemented in too great a hurry. Rajeev Gupta, Chief Executive of Indraprastha Sahakari Bank is happy with the implementation of new tax i.e. Goods and […]

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Model Co-op Bank: Co-op’s bid to understand GST

Cooperatives across the country are trying to educate their members about the implications of Goods & Service Tax introduced last week by the govt. To begin with, Mumbai based Model Co-operative Bank in association with Christian Chamber of Commerce & Industry and Dimensions organized a Seminar on GST at Xavier Institute of Engineering-Mahim in Mumbai […]

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Only SBN collected Nov 10-14 will be accepted: RBI

Launching a bombshell Thursday evening the Reserve Bank of India wrote letters to District Central Co-operative Banks saying only SBNs exchanged and accepted as deposits by DCCBs from November 10 to 14, 2016, will be eligible for deposit till July 19. Signed by P Vijaya Kumar, Chief General Manager of RBI the letter reads “Please […]

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