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Home Banks

Has Piyush forced NABARD to speak lies?

Ajay Jha by Ajay Jha
June 25, 2018
in Banks
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A desperate Congress does not know how much to milk from an RTI revelation in Ahmadabad Cooperative Bank episode. Those familiar with the working of cooperative banks certainly find it hard to suppress their smile at the ignorance of the country’s grand old Party Congress, say a large number of cooperators Indian Cooperative talked to.

Now the Congress accuses Piyush Goyal of having forced Nabard to say the “truth”. Funny indeed! If NABARD which has all the information would not clarify the confusion who else would, they ask.

Piyush Goyal forcing Nabard to issue a statement becomes news-worthy only when the facts and figures given by NABARD are proved to be a bunch of lies, feel many cooperators. But a clarification on the basis of facts and figures is what is needed in the times of rumour-mongering, they say.

What, instead, it should have done was to contest the NABARD’s statement with facts of its own. But it did not do so; aware as it is of the fact that there is more shadow than substance in the entire story of making white money from black, they argue.

Congress also displays its ignorance of the role of a Director in a co-operative organization who attends Board meeting once in a three months. It is true that he is technically responsible for all the Board decisions but a person like Amit Shah, entrusted as he is with the BJP politics for whole of the country would hardly attend all the meetings of an organization like Ahmadabad Cooperative Bank.

There may be truth in the allegation that money changed colors at the behest of Shah. But it would mean that both NABARD and RBI colluded with Shah. How many of us are ready to believe, this-could be anybody’s guess, they counter.

If we believe that the Congress is not trying to politically exploit the situation in the election year and is serious it should rebut NABARD assertions pointedly. Congress should prove that the so called verified KYC compliance in the accounts into which the demonetized notes were deposited in Ahmedabad DCCB are fake, they suggest.

Congress should also contest the statement that “RBI accepted the demonetized notes and gave necessary credit in the accounts of DCCBs concerned only after the verification”. Merely shouting from the roof-top would not help, they assert.

Nabard also calls Ahmedabad DCCB as one of the top ten DCCBs of the country. Can such lies be manufactured at the behest of Piyush Goyal, ask the skeptics. And the fact that the bank has consistently maintained zero Net NPA, which enables it to win ‘A’ class Audit rating for last consecutive five years-is also a figment of imagination of NABARD?, ask the cooperators.

Congress’s inability to find any scam in the NDA rule which can be comparable to that of UPA’s era is forcing them to be desperate but sorry we cannot help them, said a few cooperators on the board of apex co-op body NCUI and connected to the BJP.

Tags: Ahmedabad District Cooperative BankCongresscooperativenabardPiyush Goyalrbi
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