National Federation of Urban Co-op Banks and Credit Societies, New Delhi recently organized one day seminar on maximization of returns on SLR and other investment and digital technology in the Bhopal. The Seminar was attended by 44 managers and board of directors of UCBs of Madhya Pradesh and Chhattisgarh.
H.K. Soni, General Manager, RBI, Bhopal was the chief guest at the inaugural session. P.K. Arora, CGM(Rtd), RBI, Mrs. Alka Srivastava, Director NAFCUB,. Arun Singh Tomar, Chiarman, ICM Bhopal were guests of honour. Surender Singh Sisodia, Director NAFCUB and President, MP Urban Cooperative Banks Federation presided over the inaugural function.
Speaking on the occasion P.K. Arora highlighted the transitional phase of banking system from paper based to digital based and said RTGS, NEFT, e-wallet, M wallet USSD, UPI ADHAR enabled payment systems are new instruments of the digital banking which are gaining popularity amongst the customers. He said during FY 2015-16 around Rs 4,000 crore has been transacted on digital platform. A wide range of coverage, convenience, cost and growing confidence are making it more popular amongst digital savvy customers of banks.
Mrs Alka Srivastava, Director, NAFCUB said the cooperative sector being the entity of poor and downtrodden segments of society, the RBI should financially support cooperative banks. .
Arun Singh Tomar, Chairman, Institute of Cooperative Management Bhopal, in his address demanded up-gradation of skill of present employees of UCBs by sustained training on banking operations so that banks can improve their business and image.
Reserve Bank General Manager H.K. Soni, who was Chief Guest said UCBs in Madhya Pradesh have to make CBS operational for taking full benefit of digitalization. He informed that out of 51 UCBs in M.P. only 43 banks have come to CBS platform and another 4 banks are at different stage of implementing it. But 4 unitary banks are still far behind in CBS banking.
Earlier, Subhash Gupta CE, NAFCUB had welcomed all the delegates and dignitaries and thanked all the banks and their delegates for making the event successful.