Even as a group photograph of the two leaders– Nafcub President Jyotindra Mehta and its Vice-President Vidyadhar Anaskar is getting attention on social media on the occasion of the latter’s birthday, Anaskar has objected to Mehta supporting the Ordinance on the Banking Regulation (Amendment) Bill, 2020 in the capacity of Nafcub President without discussing the matter with the members.
Anaskar has demanded a Board meeting for firming up the Nafcub stand on the Ordinance. Writing a letter to Mehta and all other Nafcub Directors (a copy is with Indian Cooperative also), Anaskar says the subject matter of the Ordinance is very sensitive and has significant bearings on the Co-operative Banking Sector.
“You are supporting and voicing in favour of the Ordinance as the President of NAFCUB, in various Web seminars, talk-show, forums organized by different private institutions, without taking into confidence and considering the opinions and suggestions of the other directors of the NAFCUB”, Anaskar charges.
“No doubt, as an individual you have all rights and freedom to express your personal views but in the capacity of a President’ you have to also explain the role of NAFCUB on behalf of the entire sector on the provisions of Ordinance, based on recommendations of various committees set up by the Reserve bank, which were outright rejected by the Urban Co-operative Sector and their Associations/Federations from time to time”, Anaskar added.
As a president of NAFCUB, it is therefore expected from you to convene a meeting of the Board of Directors with immediate effect to set clear the role of NAFCUB towards various provisions of the proposed bill. However, since March 2020 and even after the conversion of Bill into an Ordinance on June 27, 2020, you have not called any meeting of the Board of NAFCUB to decide and declare the role and stand of NAFCUB, Anaskar states.
Reminding Mehta of moving a No Confidence Motion against Mukund Abhyankar just because he had supported the recommendations of High Powered Committee, he said “now I am extremely shocked and surprised at the different stand taken by you in favour of the Ordinance, whose provisions cover recommendations of High Powered Committee and compel privatization of the Co-operative Banking Sector.
Anaskar warns that “The Reserve Bank since 1993 has been trying to convert UCBs into the Private Sector by setting up various committees and issuing circulars from time to time to implement the recommendations of these committees but could not succeed.”
Now taking the undue advantage of provisions of the said Ordinance, the recommendations of Gandhi Committee and other committees are being thrust by the RBI. Since this ulterior motive of the Reserve bank – Privatization of UCBs’, is quite clear, it is unfortunate to state that you have not taken any firm and concrete stand so far in this regard, he lamented.