Maharashtra Cooperation Minister Babasaheb Patil on Wednesday chaired a nearly two-hour high-level meeting with senior leaders of Sahakar Bharati Maharashtra, including Dattaram Chalke and Vivek Jugade, to deliberate on key policy reforms for the cooperative sector.
The meeting, attended by Cooperation Secretary Pravin Darade and other senior officials, focused on several long-pending issues affecting cooperative credit societies (Patsansthas) and cooperative banks.
One of the major proposals discussed was the introduction of a risk-based deposit insurance premium for cooperative credit societies, replacing the existing flat-rate model.
Speaking to Indian Cooperative, Jugade said Sahakar Bharati suggested constituting a committee comprising 20-25 representatives from small, medium and large credit societies to work out the framework, broadly on the lines of the RBI’s risk-based approach.
The delegation also raised concerns over delays in recovery proceedings under Section 101, sought relaxation in area of operation and branch expansion norms, and proposed setting up a dedicated full-time liquidation wing with trained officers to speed up liquidation cases that often remain pending for years.
Electoral reforms in the cooperative sector also figured prominently in the discussions. The meeting ended with an assurance that the issues raised by the delegation would be examined by the state government.
