Surat Congress leader Darshan Nayak’s complaint has prompted the Gujarat Registrar of Cooperative Societies to write to the RBI’s Department of Supervision, urging the Centre to enforce reforms requiring cooperative bank directors with over 10 years’ tenure to resign, media reports say.
Nayak alleged that despite having powers, state and district registrars are avoiding direct action, passing responsibility to RBI. He plans to involve MPs Shaktisinh Gohil and Geniben Thakor to raise the matter in Parliament and demand dismissal of non-compliant officers.
The District Registrar has sought reports from five banks, Surat Mercantile, Surat District, Panchshil Mercantile, Prime, and Varachha Co-operative, on directors’ tenure compliance.
The limitation for directors should be 10 years or lesser. Now those who still want to control the Bank, come back as Board of Management.
They should not get any role in any capacity of the Board, as it Enables continuous control on management & staff.
Yes. This is the best suggestion that RBI should implement immediately as many Directors continue to hold the position either as Director or member of the Board of Management for more than 2 terms. For better management of the Cooperatives this should be implemented.
Despite amendment in BR Act, most of the Directors of the cooperative banks are in the Board for more than 10 years. The very purpose of the amendment is defeated. RBI is not playing it’s effective role for reasons best known to everyone.
Most of the directors in cooperative banks are in the power for more than 10 years despite amendment in BR Act. The very purpose of amendment is defeated. RBI
Most of the directors in cooperative banks are in the power for more than 10 years despite amendment in BR Act. The very purpose of amendment is defeated. RBI is unable to take any effective step.
Nobody care RBI and cooperative rolls. Because this shows the power of money. Paise se har chij kharidi ja sakti hai.