Co-operators connected to the urban co-op banking sector are likely to meet Union Home and Cooperation Minister Amit to say him “thank you” for resolving their long standing issues. According to sources, the Minister has agreed to meet them.
The meeting would take place on 12th October 2023 in the evening and the venue in Delhi is likely to be finalized sooner than later. The agenda of the meeting is to extend thanks to Amit Shah for his crucial support in resolving the long pending issues facing UCBs. Representatives from the respective state UCBs federation are also being invited.
The apex body of UCBs- Nafcub is taking the lead and its President Jyotindra Mehta is in town making the required preparations for the event.
Sources said, to register for the meeting, an online link has been generated and it is being circulated among cooperators. There are around 100 Multi State Cooperative Banks, which are scheduled and non-scheduled banks.
It bears recalling that recently the RBI had allowed Tier 3 and Tier 4 urban cooperative banks to be included in Schedule II of the RBI Act 1934 and get ‘Scheduled’ status. At present, there are more than 120 UCBs in tier 3 and tier 4 categories. 52 UCBs are already scheduled.
Besides, there are many other issues related to UCBs which were resolved after Shah took over. Such issues include opening of branches of UCBs, provision of OTS of outstanding loans, providing door-step banking services, doubling individual housing loan limits and others were resolved. The latest one is extending goad loan limits.
Out home minister shd b apprised about ucbs losing licences right left and centre bu RBI placing depositors in a devastating situation losing all their hard earned money for no fault of theirs. Coop banks r getting looted due to total mismanagement by those who call themselves as protectors of common man Guru Raghavendra bank bangalore is one of the outstanding example of Himalayan fraud many senior and super senior depositors have passed away .What is RBI doing?.closing the ucbs is not an answer how is it going to help the hapless depositors Our home minister shd address.this grieveous problem on humanitarian grounds and suggest measures to revive this Bank .this has to b done on war footing so that more precious lives r not lost and the grieving depositors r not brought to streets v have been suffering for. More than 3 yrs now and any further delay may cause more harm to the surviving depositors V sincerely hope that our beloved HM will certainly come to our rescue and see that v get back our hard earned money back
In addition The National cooperative Bank ,in Bangalore was also taken over administratively by RBI.
It was a great shock for many senior citizens who had great faith in cooperative banks .It appears people are hesitating to invest in cooperative banks.They say loans are disbursed without verifying the asset quality of those availing loans Also it is suspected relatives and some state politicians interfere in the working in loan disbursement.