Sahakar Bharati founder member Satish Marathe hailed Union Home and Cooperation Minister Amit Shah’s decision of covering every district in the country with a viable District Central Cooperative Bank.
Thanking Shah, Marathe wrote on his facebook wall, “Thank you Sh Amitbhai Shah, Union CoOp & Home Minister for accepting the long pending demand of Sahakar Bharati to set up District Central CoOp Bank in each District”.
“It will give a boost to the rural economy and result in higher income levels for all sections of the Society”, he added.
While replying to a query in Rajya Sabha, Amit Shah said, the Ministry of Cooperation has taken up an initiative to cover every district in the country with a viable District Central Cooperative Bank (DCCB) and a viable district milk producers’ union.
In this regard, the Ministry has requested NABARD to prepare a scheme/action plan for opening of new DCCBs in uncovered districts for complete coverage of cooperative banks.
This is sheer madness on the part of Union Government to go for a DCCB in every district of the country. When a large number of the existing. DCCBs in the country are not in a position to maintain minimum of Capital of Rs.1.00 lakh and some of the State Governments are not able to provide share capital assistance to these banks, how can they set up viable new DCCBs in the uncovered districts of the State? When the depositors are not able to withdraw their own money from some of the existing DCCBs, how the members/ general public transact with the newly set up banks?
When various Committees appointed by the RBI/ GoI recommended for delaying in the ST Cooperative structure of the country, the decision to establish new DCCBS in the uncovered districts is unfortunate.
It’s totally madness. In this era DCCB structure won’t work effectively .These banks are controlled by corrupt politicians in future. This may be leads to disasters even more than present.