The top leaders of Nafcub had a fruitful meeting with the Deputy Governor N S Vishwanathan on a host of issues including formation of Umbrella Organization for urban cooperative bank. There were several issues that were discussed but the outcome of discussions on UO was very encouraging, said Subhash Gupta coming out from the meeting.
RBI was represented not only by the Deputy Governor but also by the Executive Director Mr Sudarshan Sen. The UCB’s delegation comprised of NAFCUB President Jyotindra Mehta, H K Patil, KK Sharma, G Ramamoorthy, Dr M L Abhyankar, Vidyadhar Anaskar, R B Shandilya, among others. Nafcub Chief Executive Subhas Gupta was also part of it.
The meeting lasted for more than one hour.
The delegation which was happy with the outcome of discussion, was also assured of a soon-to-happen meeting of Standing Advisory Committee. The Deputy Governor asked his department then and there to fix a date for the said meeting as soon as possible, said another member of the visiting team.
There were more than a dozen points on which a cursory discussions took place but these would be taken up for detailed discussion in the Standing Advisory Committee meeting, said Nafcub CE Gupta. “It is also logical as the Committee is represented by all the stake-holders including state registrars, state UCB federations and big players such as Saraswat Bank, Cosmos Bank, etc”, underlined Gupta.
Besides the issue of Umbrella Organization and delinking of branch licensing from the constitution of BoM, issues like Review of Prudential Interbank Exposure Limit, OTS for NPAs, Donations by UCBs, issue of BoM, Voluntary transition of UCBs into Small Finance Banks, Financial Support for adoption and up gradation of Information Technology, Revision in DICGC cover for deposits, Maintenance of CRR balances for non-scheduled UCBs, review of FSWM norms and issues of housing loans were also discussed.
The Standing Advisory Committee meeting takes place once in an year and thus it is due also as November has arrived, added Gupta. Efforts to contact NAFCUB President Mehta failed as his phone was constantly out of reach.