Delhi State Federation of Urban Cooperative Banks held its board meeting Monday in Paharganj which was hosted by Citizen Cooperative Bank. The meeting was attended by Sahakar Bharti Patron Satish Marathe as special invitee.
A source is quoted saying the meeting discussed the issue of demonetization affecting the cooperative banking sector. Earlier, UCBs had demanded amendments to the Delhi Cooperative Act and urged upon the Delhi govt. to constitute a committee of experts.
Readers would recall that earlier the govt. had asked Delhi UCBs to suggest amendments to the Delhi Cooperative Act. Meanwhile, Chairman of Indraprastha Sehkari Bank has called upon the federation to approach court for vacation of stay or persuade the govt. of India to reformulate the Securitization Act in the interest of cooperative banks.
Chairman of the federation Laxmi Das presided over the board meeting. He is also the chairman Kangra Cooperative
Bank, a leading Urban Cooperative Bank of the Delhi-NCR region.
The representatives from different UCBs have urged NCDC Director and Sahakar Bharti Patron Satish Marathe to talk to the government on Income Tax Deduction, concessions to UCBs on a par with Nationalized Banks and other several issues, Das said to this correspondent after the meeting.
Das said ” Marathe listened to our views carefully and said Marathe has talked to several top govt. officials and leaders including Arun Jaitley, Suresh Prabhu on IT exemption issue. He assured us his full support whenever we need”, Das added.
Soon after the meeting Marathe wrote on his facebook wall “At the invitation of Sh Laxmi Dass, Chairman, Delhi State Federation of Urban CoOp Banks Ltd addressed today noon the Board Meeting of Delhi Federation of Urban Banks”.
“Had a fruitful interaction with Chairmen and Directors of many UCBs from Delhi and we decided to work together to resolve several issues confronting UCBs in Delhi”, according to Marathe’s facebook wall.
Keshav Sahakari Bank Chairman Jaiprakash Gulati, Delhi State, Sahakar Bharati President Lakshmi Narain Gupta, Indraprastha Sehkari Bank CEO Rajeev Gupta, Citizen Coop Bank CEO Azad Singh and several other representatives from Delhi UCBs were present on the occasion. The meeting lasted about three hours.
