Yatendra Malik Chairman of Keshav Sahkari bank has strongly opposed any further addition to the RBI’s power to exercise control over the cooperative banks as it barely has a handle on what the cooperative bank means. It is illogical of the RBI to compare cooperative banks with the national banks.
The comparison is unfair and shows RBI’s confusion of categories. While the national banks are high profile and large scale, the cooperative banks are much smaller catering to the poor and the middle class, added Mr Malik.
The same parameters cannot apply to both. The RBI has failed to grasp the nature and culture of the cooperative banks and it keeps trotting out fundamentally flawed reflections on the cooperative sector banks.
The direct tax code has also issued from this incomprehension, said Yatendra Malik Chairman of Keshav Sahkari bank while talking to the indiancooperative.com correspondent here in Delhi.
According to Malik, Keshav Sahkari bank was founded in 1996. Presently the bank has a solitary branch in Karolbagh but it is working hard on the twin goals of increasing its net profits and establishing new branches.
