GUCBF: Rupani vows to strengthen co-op movement

On day two of Urban Co-operative Banks’ Seminar hosted by Gujarat Urban Co-operative Banks Federation (GUCBF), at Sahakar SETU 2018, State Chief Minister Vijaybhai Rupani lauded the concept of the umbrella organisation and said this initiative would connect all UCBs under one roof.

Rupani who was the chief guest on the occasion reiterated the state govt support to the cooperative movement. “Gujarat Govt is going to support cooperative banks and provide them solutions related to banks survival and growth issues”, Rupani declared.

Speaking on the occasion Chief Minister also said that cooperative banks’ contributions are immense in the state’s development and they play a significant role especially in trade and business development.

While Gujarat chief minister, Vijaybhai Rupani was the chief guest, Deputy Chief Minister of Gujarat, Nitinbhai Patel the guest of honour. Prominent speakers included Nalin Upadhyay, (Registrar of Co Op Societies), Jyotindra Mehta (Chairman, GUJFED), R N Joshi (ED, CBRDE), J V Shah (CEO, GUJFED), and Dr Pipariya (CEO, RCCB), among others.

Addressing the gathering, Nitin Patel said, that there is a huge network of urban cooperative banks in the state. Lauding UCBs’ financial transparency he also mentioned about their role in generating employment. “In last 20 years UCBs have increased their growth and support to the social sector; the government is eager to extend its support to develop the cooperative sector”, Patel underlined.

Jyotindra M. Mehta, Chairman Gujarat Urban Co-operative Banks Federation, in his speech, emphasised upon the fact that with Sahakari SETU, the cooperative banks will grow under one umbrella. He said that the umbrella model implemented is based on an American umbrella model. He also shared his views on one time settlement scheme wherein cooperative banks waive off interest by not waiving off the principal amount. The cutoff date for cooperative banks should be made shorter.

Recognizing the achievements of the year, awards were presented by Ishwarsinh Patel, Cooperation Minister Gujarat.

The quadrennial colossal conference and exhibition of the co-operative banking sector was attended by representatives of over 200 Urban Cooperative Banks (UCBs). A mobile app of GUCBF was launched by the Chief Minister on the occasion.

RBI’s Deputy Governor N Vishwanathan had addressed the assembly on Day one.